Stock Market Update: Nifty, Sensex hit flat note; IT shares rise

Share Market Updates: The stock market started flat on Tuesday. The NSE’s Nifty and Sensex of the BSE were dominated by flat trading as soon as the market opened. After that the market hit a downtrend. Till the time of publishing this report, both Sensex and Nifty were trading in red. The Sensex of the Bombay Stock Exchange (BSE) was trading at 57,826, down 164 points, while the Nifty of the National Stock Exchange (NSE) was down 46 points at 17,194. Wipro, HCL Tech, Adani Ports gained in early trade, while Eicher Motors and Divi’s Lab sank. Investors should exercise caution amid negative global cues. In view of the possibility of an economic slowdown, investors will keep an eye on earnings.

IT shares recover

After the release of TCS’s second quarter data, IT stocks were seen recovering a bit. The firm’s second-quarter profit rose 8.4%, beating analysts’ estimates.

Top gainers and losers

SBI Life Insurance, Bajaj Auto, HDFC Life, HUL and Maruti Suzuki were among the losers on the Nifty, while Adani Ports, Wipro, Adani Enterprises, HCL Technologies and Tata Motors gained today. Today around 1206 shares rose, 709 shares declined and 118 shares remained unchanged.

Condition of world markets

In Asia, markets in Seoul, Tokyo and Hong Kong were trading lower, while Shanghai was in the green. US markets closed with a fall on Monday. The BSE Sensex closed 200.18 points or 0.34 per cent lower at 57,991.11 on Monday. Nifty closed 73.65 points or 0.43 per cent lower at 17,241. International oil benchmark Brent crude futures fell 0.28 per cent to 95.92 per barrel. According to data available with the BSE, foreign institutional investors offloaded shares worth Rs 2,139.02 crore on Monday.

Rupee strengthens against dollar

The rupee rose 6 paise to 82.34 against the US dollar in early trade. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.