Sensex, Nifty Pare Gains After Hitting New Record Highs

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(RTTNews) - Indian stocks rallied sharply Tuesday morning, and the benchmark indices Sensex and the Nifty moved on to fresh record highs, as the mood remained quite bullish thanks to sustained inflow of foreign funds into the market.

However, following a sudden bout of selling at some key counters, the market fell into the red a little while ago.

The Sensex, which soared to 67,007.02, gaining more than 400 points in the process, dropped to 66,581.08, before recovering a bit to 66,703.47, netting a gain of 113.54 points or 0.17%.

The Nifty50, which tumbled to 19,738.85 from a high of 19,819.45, is up 8.85 points or 0.04% at 19,720.30.

IT bellwether Infosys is gaining nearly 2%. The company said it has won a contract from a "strategic" client to provide AI and automation services over five years, entailing a targeted spending of $2 billion.

ICICI Bank is up 1.5% and HCL Technologies is advancing 1%. NTPC, Axis Bank, Tata Consultancy Services, Reliance Industries, Larsen & Toubro and Asian Paints are up 0.4 to 0.8%.

Titan Industries, Tata Motors, Bajaj Finance and Sun Pharmaceutical Industries are down 0.8 to 1.4%. Tata Steel, UltraTech Cement, Bharti Airtel and State Bank of India are modestly lower.

Bajaj Auto, ONGC, Hero Motocorp, Adani Enterprises, Tech Mahindra and Power Grid Corporation are also trading higher.

MindTree is down 2.2% despite the company reporting a modest 4% year-on-year increase in consolidated net profit for the April-June quarter.

Divi's Laboratories, Apollo Hospitals, HDFC Life, Dr Reddy's Laboratories, Cipla and Britannia Industries are weak.

Sensex, Nifty Deep In The Red On Tariff Worries

Indian shares opened on a sluggish note on Tuesday after the Trump administration officially issued a notice regarding the imposition of an additional 25 percent tariffs on Indian imports, with the punitive duties set to kick in at 12:01 am (EST) on August 27.

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Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market trading on Tuesday, giving up the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,950 level, with weakness in iron ore miners and a mixed performance across most other sectors.

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Asian Markets Track Wall Street Lower

Asian stock markets are trading mostly lower on Tuesday, following the broadly negative cues from Wall Street overnight, as traders looked to cash in on the recent strong gains and remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the US Fed's preferred readings on consumer price inflation. Asian markets closed mostly higher on Monday.

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Sensex, Nifty Seen Lower As US Notifies India Of Additional Tariffs

Indian shares may open on a weak note on Tuesday as enthusiasm over potential Federal Reserve rate cuts faded and caution set in ahead of the release of crucial U.S. inflation data as well as Nvidia quarterly results.

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Lower Open Called For Thai Stock Market

The Thai stock market has finished higher in two straight sessions, collecting almost 20 points or 1.6 percent along the way. The Stock Exchange of Thailand now sits just above the 1,260-point plateau although it figures to open in the red on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

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Japanese Market Significantly Lower

The Japanese stock market is trading significantly lower on Tuesday, reversing the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling below the 42,400 level, with weakness across most sectors led by index heavyweights, exporters and financial stocks.

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Indonesia Bourse May Hand Back Monday's Gains

The Indonesia stock market on Monday wrote a finish to the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,925-point plateau although it's looking at a soft start on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

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Hong Kong Shares May Be Stuck In Neutral On Tuesday

The Hong Kong stock market has moved higher in two straight sessions, improving more than 825 points or 3.4 percent along the way. The Hang Seng Index now rests just beneath the 25,830-point plateau although it may open under pressure on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

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