Stock Market Today: On Tuesday, the Indian stock market witnessed fluctuations and the market closed in a limited range. At the close of trading, the Sensex fell 105.79 points (0.13%) to close at 80,004, while the Nifty fell 27.40 points (0.11%) to close at 24,194.50.
Heavy selling in auto stocks
Heavy selling was seen in the auto sector today, which led to weakness in the Nifty Auto index. Major stocks in this sector declined, including Tata Motors, Mahindra & Mahindra (M&M), and Maruti. According to market analysts, investors were more inclined towards other sectors, which increased the pressure on the auto sector.
Buying in IT and FMCG
However, there was a buying environment in the IT and FMCG sectors. Strong performance in these sectors gave some support to the market. Stocks like Asian Paints, Infosys, TC, , S, and JSW Steel gave good returns to investors. This balanced the decline in the auto sector to some extent.
Movement in midcap and smallcap stocks
Nifty Midcap 100 and Smallcap 100 indexes saw movement. Nifty Midcap 100 saw a marginal gain, while Smallcap 100 index gained 0.83%. This was a positive sign for investors who started investing in mid ansmall-capap stocks.
Rupee fluctuations
The Indian rupee also witnessed fluctuations today. The rupee remained in the range of 84.35 as the US dollar remained stable. At the same time, the recovery in crude oil prices gave some support to the rupee, which limited the fall in the rupee. According to experts, the rupee is likely to remain in the range of 84.10 and 84.45, which will depend on global events.
It is worth noting that there was some sectoral pressure in the overall Indian stock market, but the rise in IT, FMCG,, and smallcap stocks helped to handle the market. This is the time for investors to be cautious, as uncertainty remains in the market.
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