SENSEX trades flat, NIFTY50 opens at 23,454 points; Infosys, TCS, HCL Tech, among others IT stocks fall

Although crude oil prices have declined around 7% in the last five sessions, the energy rates were witnessing a slight rebound on Tuesday’s market after touching its intraday low of $99.90 per barrel.

Investors are expected to continue monitoring the global market cues with Asian markets trading in the green, as they analyse the impact of the Oman brokers diplomatic efforts to mediate a potential peace agreement between the United States and Iran.

At 9:15 am (IST), NSE data showed that the benchmark NIFTY50 index opened 0.17% or around 40 points higher at 23,454 points on Tuesday’s market, in comparison to 23,414.30 points at the previous equity market close.

While the BSE SENSEX index opened 0.05% or 42 points higher at 74,901.50 points on September 22, compared to 74,858.99 points at the previous stock market close, according to the exchange data.

IT stocks like Infosys, TCS, HCL Tech, among others were leading the pack of top laggards during the trading session on September 22.

As of 9:45 am (IST), NIFTY50 was up 0.18% at 23,456.75 points, while the BSE SENSEX was trading 0.14% higher at 74,971 points.

Before the opening bell on Tuesday, the GIFT NIFTY futures for the September contract were trading 0.33% lower at 23,457.50 points, indicating a positive opening on September 22, with a key focus on monitoring global cues.

On the foreign outflows front, NSE FII/DII data showed that foreign investors sold ₹576.20 crore worth of assets on the capital market during the trading session on Monday, September 21.

Despite the outflows, the indices ended higher on Monday’s market as domestic buyers added ₹2,797.27 crore worth of support during the trading session resulting in SENSEX snapping a two-day losing streak, and NIFTY50 ending green for a fourth straight session.

Check top NIFTY50 gainers & losers

As of the morning market hours, stocks like HCL Tech, Tech Mahindra, Infosys, Max Healthcare, and ONGC were among the top five laggards on the benchmark NIFTY50 index, according to NSE data.

HCL Tech was down 2%, Tech Mahindra down 0.8%, Infosys down 0.7%, Max Healthcare down 0.6%, and ONGC down 0.6%.

While others like Coal India up 2.6%, Jio Financial up 2.5%, Dr Reddy’s up 1.5%, Adani Enterprises up 1.3% and HDFC Life up 1% were among the top gainers on Tuesday’s market.

Out of the 50 stocks listed under the index, 28 stocks were trading in the positive territory, while 21 stocks remained in the red zone.