Indian markets erased an early rally during Tuesday's opening bell and were now trading on a bearish note amid broad-based selloffs, especially in midcap and smallcap stocks. Heavyweight stocks also dragged the benchmarks Sensex and Nifty 50.
At around 09.59 am, Sensex was trading at 45,283.83 down 270.13 points or 0.59%. The index gained to the day's high of 45,938.40 in early deals, however, has now even clocked an intraday low of 45,140.79.
The performance in Nifty 50 was no different. The index was trading at 13,255.30 down 73.10 points or 0.55%. The index has touched an intraday high and low of 13,446.75 and 13,192.90 respectively.
Top gainers on Sensex were - HCL Tech surging by 1.7%, followed by
Tech Mahindra up 1.6%, Power Grid above 1.4%, Bharti Airtel higher by 1.2% and Infosys gaining by nearly 1%.
However, heavyweight stocks like Bajaj twins, ONGC, RIL and
SBI among others weighed down on the benchmarks.
Top underperformers on Sensex were - ONGC, Bajaj Finance and
ITC diving over 2%. While SBI shed 1.75%, followed by
IndusInd Bank down 1.6% and RIL below 1.41%.
Stocks like Asian Paint, Axis Bank, Dr Reddy's,
Maruti Suzuki, Bajaj Finserv,
HDFC Bank and Bajaj Auto have plunged by near 1% each.
On the sectoral indices front - BSE Auto slipped by 253.68 points, followed by BSE Healthcare down 234.33 points, BSE Capital Goods below 333.61 points, BSE Consumer Durables down 354.41 points, BSE Bankex lower by 194.20 points and BSE Oil & Gas down 138.91 points. These indices were major laggards of the day.
However, BSE IT was the sole gainer on Sensex, surging by 110.91 points.
BSE Midcap has nosedived by 166.51 points at 16,898.47, while BSE SmallCap plunges by 277.14 points at 16,679.85.
Antony Waste Handling Cell IPO got fully subscribed by 1.98 times on the first day of the public offering. The maiden received bids of about 1,32,00,749 equity shares against the IPO size of 66,66,342 equity shares.
Asian stock markets were trading on a negative note as investors fear economic recovery slowdown after Britain shuts down some regions amid the new strain of Coronavirus infections.