The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 26,817.75 points, closed at 26,667.96 points – down 57.64 points or 0.22 per cent from the previous close at 26,725.60 points.
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In dollar terms, the index rose 4 percent in May, overtaking the Pakistan Stock Exchange’s benchmark 100-share index as the best performer in the region this month, according to Thomson Reuters data.
The broader markets too lay low, with the BSE mid-cap index declining 0.18 per cent and the small-cap index shedding 0.14 per cent.
The key indices traded in the red during the mid-afternoon session, as selling pressure was witnessed in healthcare, IT (information technology) and consumer durables stocks.
According to the experts sentiments in the market remained weak largely in line with a weakening global trend as the prospect of higher borrowing costs in the United States damped the appeal for the precious metals, strengthening the dollar. Tata Motors DVR, a Nifty50 constituent, is gaining almost 10%.
Sun Pharma was trading higher by 0.89 per cent at Rs 832.85 ahead of its earnings later in the day today.
The US Dow Jones Industrial Average ended 0.25 per cent higher in Friday’s trade.
Major macro-economic data like the fourth quarter GDP (gross domestic product), fiscal deficit and eight core industries (ECI) are expected to be released later on Tuesday. “We are bullish on the market at this point and would recommend increasing allocation to equities”.
In rest of Asia, Hong Kong’s Hang Seng rose 1.06 per cent while Japan’s Nikkei edged up 0.49 per cent in early trade on Tuesday.
Asian markets stay higher: Most Asian markets traded higher this morning.
Volatility was up 0.97 per cent with the India Vix trading at 16.1300. Shanghai Composite gained 2.92 per cent.
Citing data, the agency also said most parts of India would get normal to excess rainfall between July and September, which is an encouraging prediction for a country that suffered two consecutive years of drought. “Nifty is likely to hold gains before the market ends”.
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“Short covering aided markets to recover from the day’s lows”.
