Tata Steel, Hindalco, Vedanta gain despite Sensex, Nifty trading with losses

  • Tata Steel, Hindalco, Vedanta gain despite Sensex, Nifty trading with losses

Tata Steel, Hindalco, Vedanta gain despite Sensex, Nifty trading with losses

The buzz of the market on Tuesday will be around the fact whether Nifty can reclaim the 10,100-mark during the day.

Also, the NSE Nifty was quoting 19.10 points or 0.19 per cent higher at 10,085.50. At 12.01 p.m, the Sensex was trading down 206.87 points or 0.64% at 32,066.80 with 23 components falling. "Negative global cues and weakness in heavyweight stocks like ITC, Reliance Industries and bank stocks contributed to the fall in the Nifty", Deepak Jasani, Head of Retail Research, HDFC Securities, told IANS.

The BSE market breadth was skewed in favour of bears - with 1,808 declines and 626 advances.

Volatility continued to plague Dalal Street as benchmark indices languished into the negative territory despite a buoyant outset in Tuesday's session.

Nifty closed at 10,057 level, down by 9 points, while Sensex closed at 32,273 level, down by 51 points on Monday.

Investors turned jittery after the market regulator last night directed bourses to initiate action against the suspected shell companies scrips of which will not be available for trading this month.

In its Tuesday morning note, Geojit Financial Services said that the yield on 6.79% bonds maturing May 2027 closed flat at 6.46 percent on August 7 while the Indian rupee ended lower at 63.81 to the U.S. dollar, after rising to two-year high on Friday last week. "Overseas, Asian shares ended mixed as disappointing Chinese trade data clouded an otherwise bright outlook".