Nifty slips below 15,800 on Asian Paints, Titan Company and Tech Mahindra losses

Benchmarks for Indian equities opened on Tuesday with declines, following weakness in global markets and rising crude oil. Finance Minister Nirmala Sitharaman will chair the 47th TSG Council meeting today.

As of 9:16 a.m., the S&P BSE Sensex was down 195.03 points or 0.37% at 52,966.25.and the broader Nifty was down 52.40 points or 0.33% at 15779.65.

Asian Paints, Titan Company, Tech Mahindra, Bajaj Finance and Hindalco Industries were among the top losers from the Nifty, while ONGC, JSW Steel, M&M, Tata Steel and BPCL were among the top gainers.

Bajaj Auto will see shares as a board-approved buyout worth up to Rs 2,500 crore. In addition, Moody’s raised Tata Steel’s outlook to “stable” from “positive” on strong operational performance supported by a healthy liquidity position.

Global Markets

Major Asia-Pacific markets also traded mixed as the COVID-19 crackdown drowned hopes of a robust recovery. While Hong Kong’s Hang Seng Index rose 0.7%, Japan’s Nikkei 225 rose 0.4%.

U.S. stock markets went silent after all major Wall Street indexes fell on Monday. The Dow Jones fell 0.2%, the S&P 500 fell 0.3% and the NASDAQ Composite fell 0.7%.

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