Trade Lower, Giving Up Early Gains

Benchmark equity indices rose in early trade on Tuesday but eventually gave up all their early gains and were trading lower in response to negative Asian market cues.

In early trade, the 30-share BSE Sensex advanced 254.11 points to 71,569.20. The Nifty gained 61.35 points to 21,480.

However, both benchmark indices ultimately gave up all of their early gains and were trading lower. The Sensex declined 152.33 points to 71,168.99, while the Nifty lost 40.50 points to 21,375.30.

Nestle, Reliance Industries, Sun Pharma, Larsen & Toubro, Axis Bank, Wipro, and Bharti Airtel were the top gainers on the Sensex.

Among the laggards were Tata Consultancy Services, Mahindra & Mahindra, Bajaj Finserv, HDFC Bank, Asian Paints, and IndusInd Bank.

In Asian markets, Tokyo traded higher, while Seoul, Shanghai, and Hong Kong traded lower.

On Monday, the US markets finished in positive territory.

Brent crude gained 0.12 percent to USD 78.04 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) sold securities worth Rs 33.51 crore on Monday.

On Monday, the BSE benchmark dropped 168.66 points or 0.24 percent to 71,315.09. The Nifty lost 38 points or 0.18 percent to 21,418.65.

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