Key indices cut losses after a weak opening. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 67.92 points or 0.14% at 48,108.88. The Nifty 50 index was down 29.10 points or 0.21% at 14,103.80.
The S&P BSE Mid-Cap index was off 0.08%. The S&P BSE Small-Cap index was off 0.11%.
The market breadth, indicating the overall health of the market, is negative. On the BSE, 1002 shares rose and 1100 shares fell. A total of 98 shares were unchanged.
Stocks in news:
Bajaj Finance slipped 0.57%. Bajaj Finance said new loans booked during Q3 FY21 were 6 MM as compared to 7.7 MM in Q3 FY20. Assets under management (AUM) stood at approximately Rs 143,700 crore as of 31 December 2020 as compared to Rs 145,092 crore as of 31 December 2019. Customer franchise as of 31 December 2020 stood at 46.3 MM as compared to 40.4 MM as of 31 December 2019.
Sun Pharmaceutical Industries rose 0.46%. Sun Pharmaceutical Industries announced that it has initiated Phase 2 clinical trial for SCD-044 (a novel, orally bioavailable sphingosine-1-phosphate (S1P) receptor 1 agonist) in patients with moderate to severe plaque psoriasis.
Force Motors fell 0.44%. Force Motors said the company's domestic sales sold at 787 vehicles and exports were 297 vehicles in December 2020.
KNR Constructions advanced 3.85%. KNR Constructions has received orders worth of Rs 603.63 crore from Project Director, Highways (FAC), Chennai Kanyakumari Industrial Corridor Project, Chennai for Upgrading Cheyyur - Vandavasi Polur Road (SH-115).
Hemisphere Properties India jumped 6.79%. Hemisphere Properties India informed that Government of India sanctioned loan amounting to Rs 40 crore to the company at the terms and conditions decided by Ministry of Finance, Government of India.
Global Markets:
Overseas, Asian stocks are trading mixed in Tuesday trade following an overnight drop on Wall Street as fears surrounding the coronavirus pandemic lingered.
US stocks dropped on Monday, the first trading day of 2021, amid concerns about global coronavirus cases and the Georgia runoff elections.
Investors are keeping eye on Tuesday's Senate runoffs in Georgia, which could have a big impact on incoming U.S. President Joe Biden's economic policies.
In the U.K., Prime Minister Boris Johnson imposed a national lockdown on England to curb the spread of the new coronavirus variant. As part of the new restrictions, people can only leave their homes for essentials, work if they can't from home and exercise. Most schools will also move to remote learning, including universities.
Back home, domestic equity benchmarks closed with strong gains on Monday. The barometer index, the S&P BSE Sensex, gained 307.82 points or 0.64% to 48,176.80. The Nifty 50 index rallied 114.40 points or 0.82% to 14,132.90.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,843.22 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 715.21 crore in the Indian equity market on 4 January, provisional data showed.
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