Stock Market Today: Nifty, Sensex Snap Two-Day Gaining Streak As RIL, SBI Share Prices Weigh

• The NSE Nifty 50 and BSE Sensex snapped two-day gaining streak on Tuesday.

• The Nifty 50 and Sensex ended 0.33% and 0.19% down

• Bharti Airtel Ltd., Mahindra & Mahindra Ltd., and Hindustan Unilever Ltd. contributed the most.

• Reliance Industries Ltd., State Bank of India, and Eternal weighed on the Nifty 50 index.

• The Nifty Auto is the best performer. It ended 0.17% higher at 22,737.60.

• The Nifty PSU Bank declined the most. It ended 4.84% down at 6,235.20.

• On NSE, 14 number of sectoral indices ended higher, and one lower out of 15

• The NSE Nifty Midcap 150 ended 2.01% down at 19,646.20

• The NSE Nifty Smallcap 250 ended 2.23% down at 15,181.45.

• Rupee settled 19 paise weaker at 84.44 against US dollar

• It closed at 84.25 a dollar on Monday

Source: Bloomberg

Gujarat Themis Biosyn Ltd has commenced commercial production at its Active Pharmaceutical Ingredient plant in Gujarat. This marks a significant milestone for the company as it expands its manufacturing capabilities to meet growing demand in the pharmaceutical sector.

Veteran investor Mark Mobius says emerging markets like India are poised to benefit as foreign investors pull back from the US, but warns that India’s red tape might be costing it dearly.

“The bureaucracy is incredible,” Mobius said, pointing to the three-month delay in approvals for his new India-dedicated fund. “India has literally money in the bank and yet can’t draw it. They’ve got to make it easier for people to open accounts and put money in.”

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Bank of Baroda share price declined 6.74% to Rs 233.81 apiece, the lowest level since April 15. It declined as the lender reported its Net Interest Income fell to Rs 11,020 crore from Rs 11,793 crore.