Indian equity benchmarks were highly volatile on Tuesday with Sensex falling over 700 points at the day’s lowest point and Nifty tumbling below its important psychological level of 17,250. However, the benchmarks staged recovery on buying around lower levels. Reliance Industries, Infosys, ICICI Bank, Tata Consultancy Services, Bajaj Finance and HDFC were among the top drags on the Sensex amid weak global cues. Asia stocks were mostly lower on Tuesday, tracking a retreat on Wall Street after President Joe Biden picked Federal Reserve Chair Jerome Powell to lead the central bank for a second term, reinforcing expectations the U.S. will taper its stimulus soon.
Here are the live market updates:
Seven of 11 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty Metal index’s nearly 2 per cent gain. Nifty Realty, PSU Bank, Media and Auto shares were also witnessing buying interest.