sensex today: Sensex sheds 200 points, Nifty below 16,150 ahead of inflation data

NEW DELHI: Benchmark indices opened lower on Tuesday, tracking weakness across Asia, as investors globally were cautious about the new Covid variant in China.

Wall Street stocks settled lower overnight. Back home, investors were keenly awaiting

June quarter results. Besides, cautiousness prevailed ahead of a slew of economic data releases, including industrial production for May and inflation reading for June, scheduled for post-market hours.

At 9.25 am, the BSE Sensex was trading 218.18 points or 0.40 per cent lower at 54,177.05. Nifty50 was trading at 16,143.35, down 72.65 points or 0.45 per cent. Midcap and smallcap indices edged up to 0.20 per cent lower.

Among Sensex stocks,

declined 1.55 per cent to Rs 2,125.20. , , HDFC, and dropped up to 1.36 per cent. , , , Mahindra & Mahindra and shed up to 0.87 per cent.
rose 0.55 per cent to Rs 145.15. also advanced 0.55 per cent to Rs 683. , TCS, and SBI added up to 0.42 per cent.

“The dominant factor influencing markets is the sustained rise in the dollar which has gained momentum during the last one month. Dollar has appreciated 5 per cent since early June and 13 per cent so far in 2022. If this trend sustains, it is bad news for EM equity. But now it appears that this ‘flight to dollar safety’ is a bit overdone and due for some correction,” said Vijayakumar, Chief Investment Strategist at

.

Vijayakumar said post TCS results, the IT index has turned weak, even as valuations for the space are fair. He said Nifty Bank is the most resilient segment and this resilience of the banking segment is likely to continue going ahead.

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