The stock market opened on a quiet note on Tuesday, with indices attempting to recoup from the previous trading session. The leading equity benchmarks were trading higher in the early hours. As of 9:15 a.m., the BSE Sensex soared beyond 73,950 at 73,965.31, up roughly 70 points, while the NSE Nifty50 reached 22,469.70, up 27 points.

However, markets quickly reversed, and as of 9:58 AM, the Sensex stood at 73,773.19, down 122.35 points, while the Nifty50 at 22,423.80, down 19 points.

Sectoral Update

In the broader market, the indices traded primarily in red. The Nifty Next 50 remained the top gainer on the list, up 0.25 percent. The Nifty Midcap 50 and Midcap 100 indices were the red, falling 0.50 percent and 0.32 percent, respectively.

The Nifty FMCG index rose 2.48 percent, followed by the Consumer Durables and Media indices.

Rupee Movement

The Indian rupee moved in a limited range versus the US dollar, rising 4 paise to 83.48 in the early trading hours on Tuesday. In the most recent trading session, the domestic unit finished at 83.52 against the dollar.

Macroeconomic Updates

Brent crude futures, the global oil benchmark, rose 0.29 percent to $83.57 a barrel. Foreign Institutional Investors (FIIs) remained net sellers in the capital markets on Monday, selling equities worth Rs 2,168.75 crore, according to exchange data.