Stock Market Today: Equity benchmark indexes Sensex and Nifty began on a neutral tone in early trade on Tuesday as investors stayed away ahead of the Federal Reserve rate decision and a busy week of corporate earnings. Outflows of foreign funds and rising Crude Oil Prices further dampened spirits.

The 30-share BSE Sensex moved up 13.76 points or 0.02 percent to 66,398.54 in intraday trading. Early trading saw the NSE Nifty rise 4.40 points, or 0.02 percent, to 19,676.75.

Global markets will be closely observing the Fed’s remarks because the market has already priced in a 25 basis point rate rise, according to V K Vijayakumar, chief investment strategist at Geojit Financial Services.

He said that on the home front, the anticipated release of quarterly results by major bluechip businesses may affect investor confidence.Tata Motors, Bajaj Auto, Axis Bank, Cipla, Dr. Reddy’s, Bajaj Finance, and Tech Mahindra will release quarterly results this week, affecting stock prices and market mood.

UltraTech Cement, Tata Motors, JSW Steel, and Mahindra & Mahindra led the Sensex pack with 1.81 percent gains. ITC, Tech Mahindra, Asian Paints, and Infosys, on the other hand, lagged behind, trading with losses of up to 2.43 percent.

18 of the 30 Sensex equities were trading in the green, while 34 of the 50 stocks that make up the Nifty were also doing so. The BSE Sensex dropped 299,48 points or 0.45% on Monday to close at 66,384.78. The NSE Nifty finished at 19,672.35, down 72.65 points, or 0.37 percent.

In the meanwhile, the rupee increased 14 paise to 81.67 versus the US dollar in early trade on Tuesday, following the drop in the value of the US dollar in foreign exchange markets. Sharp increases for the local currency were nonetheless restrained by a spike in crude oil prices, according to FX brokers.

The local currency rose 14 paise from its previous close to reach a high of 81.67 versus the American currency at the interbank foreign exchange, where it had started at 81.74. The rupee’s value versus the dollar had been decided at 81.81 on Monday.

The Hang Seng rose 3.12% while the Nikkei 225 in Japan gained 0.29 percent. European markets ended with mixed results, with the FTSE 100 in the UK climbing 0.19 percent and the DAX in Germany up 0.08 percent. The French CAC 40 fell 0.07 percent. The S&P 500 registered a gain of 0.40 percent as the US markets concluded the day largely higher.

The price of Brent crude, the standard for all crude oil, was up 0.13 percent, or USD 82.85 per barrel. According to exchange statistics, foreign institutional investors (FIIs) sold shares worth Rs 82.96 crore on Monday, making a profit.
rupee rises vs the dollar

Conclusion:

Equity benchmark indexes Sensex and Nifty began on a neutral tone in early trade on Tuesday, with investors avoiding the Federal Reserve rate decision and corporate earnings. Outflows of foreign funds and rising crude oil prices further dampened spirits. The 30-share BSE Sensex moved up 13.76 points or 0.02 percent to 66,398.54, while the NSE Nifty rose 4.40 points to 19,676.75. Global markets will closely monitor the Fed’s remarks, as the market has already priced in a 25 basis point rate rise. The release of quarterly results by major bluechip businesses may affect investor confidence.

UltraTech Cement, Tata Motors, JSW Steel, and Mahindra & Mahindra were the top gainers from the Sensex pack, with ITC, Tech Mahindra, Asian Paints, and Infosys lagged behind. The BSE Sensex dropped 299,48 points or 0.45% on Monday, while the NSE Nifty finished at 19,672.35, down 72.65 points or 0.37 percent.

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