The Indian equity benchmark indices, Sensex and Nifty 50, witnessed a negative start on Tuesday amid mixed global market cues.
The Nifty50 was trading 0.34 per cent or 80 points down at 24,041.50, and the Sensex was trading 0.27 per cent or 241 points down at 77,026.90.
In the broader markets, the Nifty Midcap and the Nifty SmallCap indices were trading 0.14 per cent and 0.26 per cent higher, respectively.
Among the sectoral indices, Nifty Auto, Bank, Financial Services, Metal, Pharma, PSU Bank, Realty, Consumer Durables, and Oil & Gas were trading lower. On the contrary, Nifty FMCG, IT, and Media were trading higher.
The US and Iran have exchanged fire at the Strait of Hormuz since their month-old ceasefire, which raised fears that the geopolitical tensions would persist longer than expected and weigh on global growth, according to reports.
To add to the woes, Iran launched missile and drone attacks on the UAE, and reportedly fired at a South Korean cargo ship near the Strait of Hormuz.
US President Donald Trump, who announced that the US will ensure the safe passage of ships through the Strait of Hormuz, said that Iran ‘will be blown off the face of earth’ if it targets the US ships protecting cargo vessels.
Q4 results today
Aadhar Housing Finance, AAVAS Financiers, Aeroflex Industries, Ajanta Pharma, Alkyl Amines Chemicals, Cigniti Technologies, Coforge, Dalmia Bharat Sugar and Industries, DCW, GNG Electronics, Emcure Pharmaceuticals, Gallantt Ispat, GHCL, Hero MotoCorp, Jammu & Kashmir Bank, Lloyds Engineering Works, Lloyds Metals and Energy, Larsen & Toubro, Mahindra & Mahindra, Marico, PTC India Financial Services, Punjab National Bank, Poonawalla Fincorp, Raymond, Raymond Realty, Shipping Corporation of India Land and Assets, Shoppers Stop, S.J.S. Enterprises, Spandana Sphoorty Financial, SRF, United Breweries, and Voltamp Transformers will release their fourth-quarter results.
IPO Today
OnEMI Technology Solutions’ initial public offer will enter its final day of subscription on Tuesday. The issue was subscribed to 0.63 times on the first day. The company is seeking to raise ₹925.92 crore from the primary market.
Bagmane Prime Office IPO will open for subscription for the second day. The company is aiming to raise ₹3,405.00 from the IPO. Similarly, Recode Studios IPO will enter its second day. It’s a book-build issue of ₹44.59 crore.
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