At 11:28 IST, the barometer index, the S&P BSE Sensex, was down 112.98 points or 0.19% to 59,175.37. The Nifty 50 index lost 30.55 points or 0.18% to 17,362.15.
The broader market outperformed the key domestic barometers. The S&P BSE Mid-Cap index rose 0.46% while the S&P BSE Small-Cap index advanced 0.29%.
The market breadth was positive. On the BSE, 1,658 shares rose and 1,541 shares fell. A total of 160 shares were unchanged.
Buzzing Index:
The Nifty Oil & Gas index fell 1.20% to 6,951.70. The index slipped 1.64% in two trading sessions.
Adani Total Gas (down 5%), Bharat Petroleum Corporation (down 1.62%), GAIL (India) (down 1.44%), Oil & Natural Gas Corpn (down 1.22%), Reliance Industries (down 1.06%), Petronet LNG (down 0.99%), Indian Oil Corporation (down 0.85%), Hindustan Petroleum Corporation (down 0.58%), Indraprastha Gas (down 0.47%) and Oil India (down 0.39%) declined.
Stocks in Spotlight:
Mastek rose 2.56% after the company announced strategic partnership with new-age and AI-led retail software solutions partner, Netail, to help e-commerce and omni-channel retailers to optimize their retail value-chain.
NHPC added 1.04% after the company said that the Cabinet Committee on Economic Affairs has accorded investment approval for the implementation of Dibang Multipurpose Project (MMP) in Arunachal Pradesh. The estimated cost is Rs 31,876.39 crore, including budgetary support of Rs 6,159.40 crore towards flood moderation component and Rs 556.15 crore towards Enabling infrastructure (i.e. roads/ bridges etc.).
Balrampur Chini Mills declined 1.11%. The company said that its board has approved the private allotment of 14,000 non-convertible debentures (NCDs) to HDFC Bank, aggregating to Rs 140 crore.
Global markets:
Asian stock markets traded mixed on Tuesday as investors digested key economic data across the region.
Japan recorded its worst decline in factory output in eight months, recording a 4.6% drop in January compared to December.
Japan's retail sales surged 6.3% for January compared to the same period last year.
Hong Kong will end its mask mandate for indoors and outdoors on Wednesday, 1 March 2023.
US stocks rose on Monday amid bargain hunting following the worst week of the year on Wall Street. All three major US indexes closed higher, with the Nasdaq Composite leading gains.
The Dow Jones Industrial average rose 72.17 points or 0.22%, while the S&P 500 and Nasdaq Composite gained 0.31% and 0.63%, respectively.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
