Domestic stock markets halted a record run on Tuesday tracking losses across Asian equities, amid uncertainty about Senate runoffs in Georgia, which could have a big impact on incoming US President Joe Biden’s economic policies. The S&P BSE Sensex index opened 139.17 points, or 0.29 per cent, lower at 48,037.63 and the broader NSE Nifty 50 benchmark started the day at 14,075.15, down 57.75 points, or 0.41 per cent, from its previous close. Losses in energy, automobile and select financial shares pulled the markets lower amid volatile trade, however, gains in IT and pharmaceutical shares arrested the fall.
At 9:23 am, the Sensex traded 100.77 points, or 0.21 per cent, lower at 48,076.03, while the Nifty was down 35.3 points, or 0.25 per cent, at 14,097.60.
Tata Motors, ONGC, Mahindra & Mahindra, NTPC and Hindalco, trading between 1.55 per cent and 2.51 per cent lower, were the worst hit among 35 laggards in the 50-scrip Nifty index.
On the other hand, Tata Consultancy Services, Cipla, HDFC, HDFC Life and Axis Bank, up 0.75-1.53 per cent each, were the top gainers in the basket of 50 shares.
Analysts awaited financial results from IT bellwether Tata Consultancy Services (TCS) on Friday for near-term cues.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.34 per cent, pulling back from a record high hit in the previous session. Japanese shares lost 0.25 per cent after a media report that the government will curb business hours in Tokyo and surrounding cities from Thursday.