Equity markets experience a downturn following three consecutive days of surging prices, as investors engage in profit-taking activities in anticipation of significant macroeconomic data releases later in the day. Additionally, the first-quarter earnings reports from TCS and HCL Technologies contribute to the downward trend.
During the trading session, the 30-share BSE Sensex succumbs to selling pressure, resulting in a decline of 223.94 points or 0.34%, ultimately settling at 65,393.90. Throughout the day, the index reaches a low of 65,320.25 and a high of 65,811.64. Similarly, the NSE Nifty experiences a dip of 55.10 points or 0.28%, concluding the day at 19,384.30.
Later in the day, the release of industrial production data for May and inflation figures for June is scheduled.
Among the constituents of the Sensex, prominent decliners include Infosys, Tata Motors, UltraTech Cement, HDFC Bank, NTPC, IndusInd Bank, Larsen & Toubro, HCL Technologies, Power Grid, Maruti, HDFC, and Tata Steel.
On the other hand, Kotak Mahindra Bank, Asian Paints, Nestle, Titan, State Bank of India, and Reliance Industries register gains.
Foreign Institutional Investors (FIIs) continue their buying spree, with equities worth ₹1,197.38 crore being purchased on Tuesday, according to exchange data.
In Asian markets, Seoul and Hong Kong conclude the day in positive territory, while Tokyo and Shanghai witness a decline. European equity markets are trading positively, and the US markets close on a positive note on Tuesday. Brent crude, the global oil benchmark, records a modest increase of 0.23%, reaching $79.58 per barrel.
On Tuesday, the BSE benchmark advances by 273.67 points or 0.42%, settling at 65,617.84. Similarly, the Nifty climbs 83.50 points or 0.43%, concluding at 19,439.40.
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