Markets slip into red , erasing morning session gains

The Indian stock market started positively on Tuesday but lost momentum in the afternoon session due to concerns about the wider economic difficulties, which dampened investor optimism.

Market participants are anticipating the release of important economic data later in the week, which has contributed to the cautious market sentiment.

On the sectoral front, the Nifty IT pack is trading 0.5% lower. Nifty Media fell the highest by 2%. Nifty Bank and Financial Services are trading with marginal gains. All other sectoral indices are trading in low spirits.

At around 1.00 PM, BSE Sensex is trading 57,666, higher by 13 points only. NSE Nifty is trading 12 points lower at 16,972.80.

IndusInd Bank (+1.89%) is the top NSE gainer so far. UPL (+1.26%), Coal India (+1.20%), Dr Reddy’s (+1.02%), and Hindalco (+0.96%) are trading 1% higher.

Adani Enterprises fell 6%, being the top loser on NSE. Adani Ports (-4.52%) is trading about 5% lower. Tech Mahindra is down by 3.06%. Hero MotoCorp (-2.23%) and Bharti Airtel (-1.88%) are trading with a 2% downside.

A total of 16 stocks advanced while 34 declined on the Nifty index.

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