Early trading on Tuesday witnessed a downturn in equity benchmark indices, influenced by lackluster performances in Asian markets and fresh outflows of foreign funds. Investors, following a recent vigorous surge in the markets, opted to cash in profits.
The BSE Sensex, comprising 30 shares, stumbled by 202.76 points to 72,069.18, while the Nifty experienced a drop of 42.9 points, settling at 21,699.
Among the Sensex constituents, notable underperformers included UltraTech Cement, Mahindra & Mahindra, Infosys, Asian Paints, HCL Technologies, and Larsen & Toubro. Conversely, Sun Pharma, Bharti Airtel, Reliance Industries, Bajaj Finserv, and Power Grid emerged as winners.
Across Asian markets, Seoul, Shanghai, and Hong Kong witnessed downtrends, whereas global markets, including Asia, Europe, and the US, remained closed on Monday for New Year celebrations.
Brent crude, the global oil benchmark, saw a notable increase of 1.65 percent, reaching USD 78.31 per barrel.
Foreign Institutional Investors (FIIs) were noted to have divested equities worth Rs 855.80 crore on Monday, as per exchange data.
On Monday, despite a subdued start, the BSE gauge managed to secure a modest gain of 31.68 points or 0.04 percent, closing at 72,271.94, while the Nifty saw an uptick of 10.50 points or 0.05 percent, ending at 21,741.90.
In the year 2023, the BSE benchmark recorded a robust surge of 11,399.52 points or 18.73 percent, and the Nifty followed suit, climbing by 3,626.1 points or 20 percent.
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