Markets give up early gains; trade lower


PTI, Dec 27, 2022, 11:23 AM IST

Representative Image (Source: Shutterstock)

Mumbai: Equity benchmarks began the trade on a positive note on Tuesday following firm trends in other Asian markets but later gave up all initial gains and were trading lower amid profit-taking.

Extending its previous day rally, the 30-share BSE Sensex had jumped 404.21 points to 60,970.63 in initial trade. On similar lines, the broader NSE Nifty climbed 119.45 points to 18,134.05.

However, later the 30-share BSE benchmark pared all early gains and quoted 74.9 points lower at 60,491.52, while the Nifty traded 15.10 points down at 17,999.50.

From the Sensex pack, Tata Motors, Tata Steel, Power Grid, Titan, Asian Paints, Kotak Mahindra Bank, UltraTech Cement and Bajaj Finance were the major winners.

Bajaj Finserv, ITC, Tata Consultancy Services, Tech Mahindra, IndusInd Bank and Bharti Airtel were the laggards.

Elsewhere in Asia, equity markets in Seoul, Tokyo and Shanghai were trading in the green.

Markets in the US were closed on Monday.

”Volatility is likely to be the hallmark in the near-term amidst December F&O expiry this Thursday,” said Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities Ltd.

The BSE benchmark rallied 721.13 points or 1.20 per cent to settle at 60,566.42 on Monday. The Nifty advanced 207.80 points or 1.17 per cent to end at 18,014.60.

International oil benchmark Brent crude climbed 0.67 per cent to USD 84.48 per barrel.

Foreign institutional investors (FIIs) offloaded shares worth Rs 497.65 crore on Monday, according to exchange data.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

BJP warns Cong to be prepared for people’s wrath for holding back job reservation bill in Karnataka

US cop who laughed after Indian student’s death fired

First Vice-Chancellor of MAHE, Professor Marthanda Varma Sankaran Valiathan no more

Coast Guard rescues stranded Indian fishing boat with 11 crew members off Kerala coast

‘World is on fire’ because of Biden, says Trump’s aide

How can government issue contracts for solid waste management without landfills? asks DKShi

Two soldiers injured in gunfight with terrorists in J & K’s Doda

Related Articles More

Markets decline in early deals on weak global peers, profit-taking

IMF forecasts Indian growth rate at seven per cent in 2024

Scindia brainstorms with Ambani, Mittal, others to chart telecom growth roadmap

Byju’s faces insolvency proceedings for failure to pay Rs 158.9 cr to BCCI

Sensex, Nifty close at record high levels for third day in a row

MUST WATCH

Brahma Kumaris

Tapta Mudra Dharana

Banana Farming

Aghnashini River

Dr. Rajkumar


Latest Additions

Fire at shopping mall in China kills 16 people

ICC Annual General Meeting: Will Jay Shah take over as chairman this year-end or Barclay will continue till 2025?

SC attains full strength as 2 judges take oath; top court gets first judge from Manipur

BJP warns Cong to be prepared for people’s wrath for holding back job reservation bill in Karnataka

Wanted criminal killed in encounter with UP Police

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.