Sensex slips 600 points from upper levels; Nifty below 25100

New Delhi| After gaining momentum in early trading, the domestic stock market is showing a decline. Benchmark indices have dived from the day’s upper levels. Sensex slid down to 600 points from upper levels due to selling in shares of Reliance and HDFC Bank. On the other hand, Nifty also fell below the weak 25100.

Earlier, the trend of growth in the market continued on Tuesday also. Trading in benchmark indices Sensex and Nifty started on the green mark. Sensex rose 327.39 points to 82,300.44 in early trade; Nifty, on the other hand, was seen trading at 25,212.05 with a strength of 84.1 points. Earlier, Sensex opened at the level of 82,101.86 and Nifty at the level of 25,186.30.

On the National Stock Exchange, all sectoral stocks except auto and metal were seen trading on the green mark. Bharat Petroleum Corporation, Bajaj Finserv, Bharti Airtel, Infosys and ICICI Bank were the biggest gainers in the early hours of trading. On the other hand, shares of ONGC, Tata Steel, Hindalco, M&M and JSW showed losses. Earlier on Monday, the domestic market was seen trading with a positive trend and Sensex-Nifty closed at the highest level of the day.

On Tuesday, the IPO of car manufacturing company Hyundai Motor India opened for investors. The issue price for the IPO has been fixed at Rs 1865 to Rs 1960. Apart from this, investors will also react to the quarterly results of major companies like Reliance Industries. The company’s net profit rose 9.4 percent in the second quarter compared to the first quarter.

Meanwhile, the Asian market was seen trading in a mixed manner on Tuesday. The Shanghai Composite was down more than 27 points at the time of writing. Japan’s Nikkei 225, however, posted gains of more than 1.5 percent. The US market, on the other hand, closed at a record high with a gain of 1 per cent, thanks to the strengthening of IT stocks. Nvidia shares rose more than 2 percent, benefiting U.S. markets. Other major IT companies like Apple, Microsoft and Amazon also gained about 2 percent.