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Sensex ends flat amid volatility, Nifty holds 15,850
Indian indices on Tuesday bounced back from intra-day losses to end flat, led by market heavyweights M&M, Tata Steel, and Reliance Industries, among others

Sensex ends flat amid volatility, Nifty holds 15,850

Image: Business Today

The benchmark equity indices erased their day’s losses and ended on a flat note with marginal gains on Tuesday.

The S&P BSE Sensex rose 16.17 points (0.03 per cent) to end at 53,177.45 while the Nifty 50 settled at 15,850.20, up 18.15 points (0.11 per cent). Both the indices had opened around 0.5 per cent lower earlier in the day and traded with marginal cuts for the bulk of the session before turning positive towards the final minutes of trade.

Notably, the domestic indices declined during the majority of the sessions so far in June. Major stock indices in the US posted their biggest declines in more than a week on Monday, said Deepak Jasani, Head of Retail Research of HDFC securities.
Also, concerns of consistent fund outflows from India by foreign portfolio investors as well as rising global crude oil prices weighed on the investors’ sentiment.

On the Sensex pack, Mahindra & Mahindra (M&M), Reliance Industries (RIL), Dr. Reddy’s Laboratories, Tech Mahindra, Tata Steel, HCL Technologies and Larsen & Toubro (L&T) were the top gainers on Tuesday’s session. In contrast, Titan Company, Asian Paints, Bajaj Finserv, Kotak Mahindra Bank, ICICI Bank and Bajaj Finance were the top laggards.

Rupee

The rupee extended its fall on Tuesday morning despite weakness in the dollar index. Rebound in the crude oil prices and talks of more economic sanctions on Russia pushed the rupee lower. FII selling in the domestic markets is continuing which is also putting pressure on the rupee.

Further, economic sanctions on Russia could lead to volatility in global energy prices and put pressure on emerging market currencies.

Zomato share

Zomato share price has tumbled nearly 15 per cent to Rs 60.45 apiece on BSE in two trading session after the online food delivery platform announced the acquisition of Blinkit (formerly known as Grofers) for Rs 4,447 crore in a share swap deal as part of its strategy of investing in quick commerce business. The stock has plunged over 64 per cent from its all time high of Rs 169 apiece.

Crude oil

Crude oil prices on Tuesday rose by 129 to 8,767 per barrel as participants widened positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for July delivery traded higher by 129 or 1.49 per cent at 8,767 per barrel in 7,696 lots.

Analysts said the raising of bets by participants kept crude oil prices higher in futures trade.

Global market

Global stocks were mostly higher Tuesday after a wobbly day on Wall Street as markets cooled off following a rare winning week. Oil prices pushed higher and US futures also advanced.

Germany’s DAX added 0.9 per cent to 13,306.38 while the CAC 40 in Paris advanced 1.4 per cent to 6,132.32. Britain’s FTSE 100 gained 1.1 per cent to 7,337.96. The futures for the Dow industrials and the S&P 500 were up 0.7 per cent.

On Monday, the S&P 500 slipped 0.3 per cent to 3,900.11. The Dow dropped 0.2 per cent to 31,438.26, and the Nasdaq slid 0.7 per cent to 11,524.55.

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