Stock Market Today: Sensex Sheds 200 Points, Nifty Below 16,250

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The key benchmark indices opened in red on Tuesday following Asian markets and an hike in oil prices. 

The BSE Sensex fell 200 points to 54,360, and the NSE Nifty50 slipped 50 points to 16,227.

Tata Steel, Sun Pharma, Bharti Airtel, NTPC, Ultratech Cement, PowerGrid and Dr Reddy’s were the key gainers on the Sensex. 

On the other hand, HCL Tech, Asian Paints, Tech M, TCS, Infosys, were key losers, down up to 1.5 per cent. 

The broader markets, meanwhile, opened in green. The BSE MidCap and SmallCap indices were up to 0.14 per cent higher.

Meanwhile, the rupee breached the psychological barrier of 80 against the US dollar early today. The Indian currency fell 7 paise to all-time low of 80.05 against the US dollar in early trade

Trends on SGX Nifty indicated a negative start for the broader index in India, with a loss 113 points or 0.69 percent. The Nifty futures were trading around 16,177 level on the Singaporean Exchange at 7:20 IST.

The Indian equity market extended the winning momentum for the second day in a row on Monday, supported by buying in heavyweights and across the sectors.