The Sensex and Nifty swung between gains and losses amid volatile trade in the first hourThe S-P BSE Sensex index and the broader NSE Nifty benchmark swung between gains and losses on Tuesday as the markets lost steam a day after clocking a record high.
The Sensex moved in a range of228.58 points, touching 40,466.55 and 40,237.97 at the strongest and weakest levels in morning trade respectively.
The Nifty swung a total 61 points between 11,917.95 and11,978.95, as the markets switched direction at least eight times after a positive opening.
Gains infinancial, auto and metal stock were countered by losses in IT and consumer goods shares.
Shares in other Asian markets however rose on optimism about a US-China trade deal, with MSCI's broadest index of Asia Pacific shares outside Japan last seen up0.29 per cent while Japan's Nikkei 225 benchmark was up1.50 per cent.Jindal Steel, Hindalco Lead Gains Among Metal StocksTen out of the 19 sectoral indices on the BSE traded in the positive zone.
In percentage terms, the metal sector was the top gainer - led by Jindal Steel and Hindalco which rose as much as 2.77 per cent and 2.40 per cent respectively - while the top laggard was consumer durables.Mahindra - Mahindra To Recall Some XUV300sMahindra and Mahindra shares were flat after the company said it will recall a limited batch of XUV300 vehicles to fix a faulty suspension component.At 10:21 am, the M-M stock traded 0.06 per cent lower at Rs 586.10 apiece on the BSE, underperforming the benchmark Sensex index which was up 0.12 per cent.Sensex, Nifty Reverse Direction At Least Eight Times After Positive Start After starting the session on a higher note, the markets have so far reversed direction at least eight times.
The National Stock Exchange India VIX index - which gauges the market's expectation of volatility in the near term - jumped as much as 2.61 per cent before cooling off.At 10:13 am, the volatility index was up 0.97 per cent.Sensex Up Over 50 Points, Nifty Near 11,950 As Banking, Auto Stocks RiseBuying picked up in auto, metal and state-run banking sectors, rescuing the markets out of the negative territory.
At 9:48 am, the Sensex traded 56.95 points - or 0.14 per cent - higher at 40,358.91 while the Nifty was up 8.35 points at 11,949.65.IndexChangeNiftyMedia-0.52%Nifty IT-0.51%Nifty Fast Moving Consumer Goods-0.35%Nifty Private Bank+0.10%NiftyFinancial Service+0.27%Nifty Pharma+0.29%Nifty Bank+0.32%Nifty Realty+0.43%Nifty Metal+0.73%Nifty Auto+1.00%Nifty PSU Bank+1.63%Sensex, Nifty Turn Negative Amid Volatile TradeHowever, gains were short-lived as losses in financial, IT and consumer goods stocks outweighed gains in auto and pharma shares.
The Sensex moved to the negative territory to hit 40,237.97, down 63.99 points from the previous close.
The Nifty slid to as low as 11,917.95, down 23.35 points from the previous close.Sensex Up Over 80 Points, Nifty Above 11,950At 9:21 am, the Sensex traded 81.22 points - or 0.20 per cent - higher at 40,383.18 while the Nifty was at 11,958.80, up 17.50 points - or 0.15 per cent - from the previous close.
Top percentage gainers on the 50-scrip index at the time wereYes Bank, Bajaj Finance, Tata Motors, Bajaj Finserv and HDFC, trading between 1.08 per cent and 5.90 per cent higher.
On the other side, Zee Entertainment, Sun Pharma, GAIL, Kotak Bank and HCL Tech - trading between 0.64 per cent and 1.38 per cent lower - were thetop Nifty laggards.HDFC, Reliance Industries and HDFC Bank were the top contributors to the gain in Sensex.Sensex Opens 144 Points Higher, Nifty Starts Day At 11,975The S-P BSE Sensex index opened 143.71 points higher at 40,445.67 while the broader NSE Nifty benchmark started the session at 11,974.60, up 33.3 points from the previous close.On Monday, the Sensex had ended with a gain of 136.93 points (0.34 per cent) at a record closing high of 40,301.96, and the Nifty at 11,941.30, up 50.70 points - or 0.43 per cent - from its previous close.Sensex Up Over 100 Points In Pre-Open MarketThe S-P BSE Sensex index rose as much as 124.66 to 40,426.62 in the pre-opening session.At 9:05 am, the Sensex was up 93.73 points - or 0.23 per cent - at 40,395.69 while the broader NSE Nifty benchmark was up 38.65 points - or 0.32 per cent - at 11,979.95.Asian Shares Rise On US-China Trade OptimismShares in other Asian markets however rose on optimism about a US-China trade deal, with MSCI's broadest index of Asia Pacific shares outside Japan last seen up0.29 per cent while Japan's Nikkei 225 benchmark was up1.50 per cent.SGX Nifty Futures Indicate Lacklustre Start For MarketsDomestic stock markets are likely to open on a lacklustre note losing steam a day after the S-P BSE Sensex index registered a record closing high.At 8:44 am, the Singapore Exchange (SGX) Nifty futures - an early indicator of the National Stock Exchange (NSE) Nifty index in India - were down10.00 points - or 0.08 per cent - at11,974.50.