Markets recover most of intra-day losses; end marginally lower

Equity benchmarks rebounded from intra-day losses and concluded marginally lower on Tuesday, supported by buying in major index players like Reliance Industries and Tata Consultancy Services.

The 30-share BSE Sensex, aided by late-session buying in heavyweight stocks, pared most of its initial declines, finishing down by 103.90 points or 0.17% at 61,702.29. Earlier in the day, it had plunged by 703.51 points or 1.13% to 61,102.68. The broader NSE Nifty declined by 35.15 points or 0.19%, settling at 18,385.30. Tata Consultancy Services, Reliance Industries, UltraTech Cement, IndusInd Bank, Axis Bank, and ICICI Bank closed positively among the 30-share pack. Major laggards included Tata Motors, Hindustan Unilever, Mahindra & Mahindra, Larsen & Toubro, Bharti Airtel, Maruti Suzuki, NTPC, Tech Mahindra, Bajaj Finance, and Tata Steel.

In Asia, markets in Seoul, Tokyo, Shanghai, and Hong Kong closed lower, while European exchanges were in negative territory during mid-session trading. US markets had concluded lower on Monday. The international oil benchmark Brent crude rose 0.65% to USD 80.32 per barrel. On Monday, foreign institutional investors (FIIs) sold shares with a net worth of Rs 538.10 crore, according to exchange data.

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