Mumbai, 12 May. The Indian stock market started in the red on Tuesday due to increase in global volatility. At 9:19 am, Sensex was at 75,648 with a weakness of 366 points or 0.48 per cent and Nifty was at 23,724 with a weakness of 91 points or 0.38 per cent. The market decline in early trade was led by IT and services shares. Nifty IT and Nifty Services were the top losers among the indices. Nifty India Defence, Nifty Realty, Nifty Media, Nifty Private Bank, Nifty Financial Services, Nifty Pharma, Nifty Healthcare, Nifty FMCG, Nifty India Manufacturing were also trading in the red.
On the other hand, among the indices Nifty Oil & Gas, Nifty Metal, Nifty Energy, Nifty PSU Bank and Nifty PSE were in the green. Compared to largecaps, midcaps and smallcaps also declined. The Nifty Smallcap 100 index was at 18,347, down 178 points or 0.96 per cent, and the Nifty Midcap 100 index was at 60,785, down 472 points or 0.77 per cent. Bharti Airtel, Tata Steel, NTPC and SBI were the gainers in the Sensex pack. Infosys, TCS, Tech Mahindra, HCL Tech, Maruti Suzuki, HDFC Bank, Bajaj Finserv, Trent, Asian Paints, Power Grid, ITC, L&T and Titan were the losers.
There was mixed trading in global markets. Tokyo, Hong Kong and Bangkok were in the green, while Shanghai, Seoul and Jakarta were in the red. The US market closed in the light green on Monday. The main index Dow Jones was up 0.19 percent and Nasdaq was up 0.10 percent. Tension has increased again at the global level after US President Trump rejected Iran’s peace proposal. There is a dispute between the two countries over issues like nuclear program, American blockade and ballistic missile program. Due to this, there is a rise in crude oil. Brent crude was up 0.92 per cent at $105 per barrel and WTI crude was at $99 per barrel, up 1.08 per cent.
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