Stock Market Today: Sensex breaks the downward slide, soars 150 points, Nifty reaches 18200

Stock Market Today: Amid conflicting global market trends, equity benchmark indexes initially declined in early trade on Tuesday but later recovered and were trading in the green.

The Sensex pack's biggest laggards included Nestle, Power Grid, Sun Pharma, HCL Technologies, Wipro, Tata Consultancy Services, Reliance Industries, and Kotak Mahindra Bank.

High Traders

Among the winners were UltraTech Cement, Maruti Suzuki, Larsen & Toubro, NTPC, and ICICI Bank. Tokyo and Shanghai markets were trading higher elsewhere in Asia, while Seoul and Hong Kong were trading lower.

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Stock Market Today: Market View

In the foreseeable future, the market will probably remain poor. FIIs may sell again or at the very least hold off on making large purchases now that the dollar index has risen to over 108. The market cannot move much higher from its current levels at this time due to any favourable factors. The Covid spread in China is probably going to have an effect on Chinese GDP, thus it's likely that crude and metal prices will continue to decline. Long-term investors can buy high-quality stocks in the banking, telecom, capital goods, IT, autos, and blue chips across sectors by taking advantage of the market's weakness.

From yesterday

On Monday, the BSE benchmark dropped 518.64 points, or 0.84 percent, to close at 61,144.84. The Nifty ended at 18,159.95 after losing 147.70 points or 0.81 percent.

Benchmark Brent crude for world markets was trading 0.49 percent higher at USD 87.89 per barrel.

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