India's benchmark stock indices traded marginally lower by midday on Tuesday as realty and non-banking financial companies declined while the information technology and pharmaceutical sectors advanced. Nifty Midcap 100 and Nifty Pharma hit fresh all-time highs.
India's manufacturing activity maintained its growth momentum as order growth remained elevated in July amid ongoing buoyant demand, according to a private survey.
Shares in Japan and Australia rose, while equities in China retraced an early advance. Beyond China, stocks were broadly higher, including in South Korea, where the Kospi benchmark added more than 1%. U.S. and European equity futures were little changed.
Mainland China and Hong Kong shares inched lower, heading towards breaking the six-session gain streak after Caixin PMI figures showed factory activity contracted in July, missing economists' estimates for a small expansion. The Australian dollar weakened against the greenback after the nation's central bank held interest rates unchanged.
On Monday, the S&P 500 edged higher to around 4,590 points, closing at a 16-month high. The Nasdaq 100 notched its longest streak of monthly gains since August 2020.
As of 12:27 p.m., the S&P BSE Sensex declined 86 points, or 0.13%, to 66,441.83, while the NSE Nifty 50 fell 28 points, or 0.14%, to 19,725.80.
HDFC Bank Ltd., NTPC Ltd., TCS Ltd., Infosys Ltd., and Coal India Ltd. were positively contributing to the change in the Nifty 50.
Whereas, Reliance Industries Ltd., Power Grid Corp of India Ltd., State Bank of India, Larsen & Toubro Ltd., and Kotak Mahindra Bank Ltd. were weighing on the index.
The broader market indices were trading mixed, with the S&P BSE MidCap falling 0.15% while the S&P BSE SmallCap rose 0.57% by midday trade on Tuesday.
Ten out of the 19 sectors compiled by BSE Ltd. advanced, while nine sectors advanced. S&P BSE Information Technology rose the most, while S&P BSE Realty fell the most.
The market breadth was skewed in favour of the buyers. About 2,024 stocks rose, 1,406 declined, and 175 remained unchanged on the BSE.
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