Stock Market Today: Sensex, Nifty Snap Four-Day Winning Streak

The yield on the 10-year bond closed flat at 7.06%.

Source: Bloomberg

The local currency closed flat at 82.89 against the U.S. Dollar.

Source: Bloomberg

India's benchmark stock indices ended lower on Tuesday, snapping four days of gains, weighed by losses in Infosys Ltd. and Bajaj Finance Ltd.

The NSE Nifty 50 settled 49.3 points or 0.22%, lower at 22,356.3, and the S&P BSE Sensex declined 195.16 points or 0.26%, to end at 73,677.13.

During the day, the Nifty fell as much as 0.61% to 22,269.15, while the Sensex declined 0.62% to 73,412.25.

"For traders now, the 22,275 level of the Nifty would act as a sacrosanct support zone. As long as the index is trading above this level, positive momentum is likely to continue, according to Shrikant Chouhan, head of equity research at Kotak Securities Ltd. "Above the same, the market (Nifty 50) could move towards 22,450–22,500. On the flip side, below 22,275, the uptrend would be vulnerable." 

Stocks in the Asia-Pacific region closed in red as China’s new targets and measures to build confidence in its economy received a lukewarm response from markets. Hong Kong's Hang Seng fell the most by over 2.61%, while S&P ASX closed lower by 0.15% on Tuesday.

Brent crude was trading 0.08% higher at $82.88 a barrel. Gold was higher by 0.49% at $2,124.94 an ounce.

Shares of Infosys Ltd., Bajaj Finance Ltd., Tata Consultancy Sevices Ltd., Reliance Industries Ltd., and Bajaj Finserv Ltd. declined the most on the Nifty 50.

Bharti Airtel Ltd., HDFC Bank Ltd., Tata Motors Ltd., State Bank of India, and Sun Pharmaceuticals Ltd. rose the most.

Most Nifty sectors ended higher with Nifty PSU Bank and Nifty Auto advancing the most. Nifty IT and Nifty Media declined the most by 1.59% and 1.37%, respectively.

The broader markets also ended lower along with the benchmark indices. as the BSE MidCap declined by 0.17% and the SmallCap ended 0.63% lower.

On the BSE, 10 out of the 20 sectors ended lower. The BSE Services index rose 1.30% to become the best-performing sector, while the BSE Information Technology fell 1.61% to become the worst performer.

Market breadth was skewed in favour of sellers. Around 2,559 stocks fell, 1,281 rose, and 93 stocks remained unchanged on BSE.

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