Economy

Markets recover from lows to close flat-to-negative

Markets recover from lows to close flat-to-negative

At 10.30 AM: Benchmark Sensex was 80 points low or 0.25% to 32,788.81 while the wider Nifty was down by over 29 points or0.30% to 10,097.85.

"Markets ended with marginal losses on Tuesday after a bounce back from the lows of 10,069 curbed the losses". 30-share BSE Sensex closed on 32,802.44, down by 67.28 points while the broader 50-share NSE Nifty finished on 10,118.25, 9.50 points below previous closing.

Market breadth was negative with 1,027 advances against 1,419 declines.

On the currency front, the rupee closed nearly flat at 64.38-39 against the U.S. dollar from its previous close at 64.37-38.

The major losers that dragged down the key indices include Adani Ports, NTPC, Tata Steel, Power Grid, Bajaj Auto, Wipro, Coal India, Hero MotoCorp, HDFC Bank, ONGC, L&T, Dr Reddy's and SBI.

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Trading was highly volatile throughout the session ahead of RBI's monetary policy review and Gujarat elections later this week.

In the broader markets, the S&P BSE mid-cap index closed higher by 0.41 per cent, whereas the small-cap index inched down by 0.03 per cent. This has led to selling by investors, which added to the negative mood.

The Sensex touched a high of 32,893.05 points and a low of 32,682.52 during the intra-day trade.

HPCL, BPCL, Infosys, Sun Pharma and UltraTech Cement gained the most on Nifty50.