Sensex regains after early losses, Nifty reclaims 11,000 points

The domestic stock market indices – Sensex and Nifty – dipped into the red after a flat start on Tuesday morning. According to reports, the BSE Sensex opened at 36,350.65 points whereas Nifty50 at 10,969.95. In the initial minutes of trading, Sensex traded at 36,249.49, down with 55.53 points or 0.15 per cent and Nifty was at 10,943.35, 24.05 points or 0.22 per cent. Apart from pharma industry, indices of all other sectors including banking, financial services and auto traded in losses. A report by news agency Reuters suggests that Asia stocks struggled as a fresh round of US-China tariffs and a surge in oil prices to near four-year highs added to worries about risks to global growth. Asian stocks hit a new low on Tuesday as a fresh round of U.S.-China tariffs and relentless hike in oil prices to near four-year highs added to worries about risks to global growth. After the dip in trading, top gainers of Sensex included Sun Pharma, Yes Bank, Reliance Industries, Coal India, HDFC, Asian Paints and Infosys. Top drag on BSE Sensex index was Bharti Airtel. Even on Monday, the stock market indices continued its downfall with Sensex shedding 624 points to an intra-day low of 36,216.95 points and the Nifty 50 slumping below the 11,000-mark. The swing in Sensex and Nifty indices have been frequest over the past one week. The Reserve Bank of India (RBI) on Monday said that it would buy Rs 10,000 crore ($1.38 billion) of government bonds in an open market operation, amid efforts by authorities to reassure investors over a brewing debt crisis in the non-banking financial sector (NBFC). According to a data by NSE, the foreign portfolio investors sold new equities of Rs 523.94 crore while the domestic institutional investors purchased net shares of Rs 1,527.67 crore. Even the NBFC stocks continued its downfall on Tuesday over liquidity concerns. Shares of DHFL slipped for consecutive three days at 12.60 per cent in morning deals on the national stock exchange. Even the Indiabulls Housing Finance was 5.49 per cent down.