Benchmark stock market indices fell sharply in the afternoon trading session on Tuesday after surging in early trade.
The S&P BSE Sensex was down 190.46 points at 78,568.94 at 2:20 pm, while the NSE Nifty50 dipped below 24,000 after falling 65.10 points.
Both the benchmark indices had soared in early trade as Asian markets recovered from yesterday’s bloodbath.
While market experts are confident that Dalal Street will bounce back, the ongoing mix of negative global developments are keeping investors cautious.
Following yesterday’s crash, experts said domestic equities could face volatility in the short term and traders should look to invest in stocks over a long-term horizon with focus on large-cap stocks.
Broader market indices, housing the domestic-focused small-cap and mid-cap stocks, were trading in negative territory after jumping sharply at today’s market opening.
However, investors should note that the broader equity market indices remain volatile.
The top five gainers on the Nifty50 were Britannia, JSW Steel, Tech Mahindra, LTIM and Adani Enterprises.
On the other hand, the top losers were HDFC Life, SBI Life, Bharti Airtel, Shriram Finance and Titan.
Source Agencies
