Sensex, Nifty decline on Tuesday amid mixed global trends
"The BSE Sensex declined by 361.64 points or 0.50% to settle at 72,470.30. During the day, it fell by 468.91 points or 0.64% to 72,363.03. The NSE Nifty declined 92.05 points or 0.42% to 22,004.70. From the Sensex basket, PowerGrid, Bharti Airtel, Wipro, HDFC Bank, Kotak Mahindra Bank, UltraTech Cement, Asian Paints, Infosys and Reliance Industries were the major laggards. Bajaj Finance, NTPC, Larsen & Toubro, Axis Bank, Tata Motors, IndusInd Bank and Bajaj Finserv were among the gainers.
The rupee recovered from an all-time low level and appreciated 33 paise to close at 83.28 (provisional) against the US dollar on Tuesday on decline in the US dollar and positive Asian currencies.
At the interbank foreign exchange market, the local unit opened at 83.33 against the greenback. The unit hit an intra-day high of 83.26 and a low of 83.37.
Voltas has received an order from the Office of the State Tax Officer, Cuttack, Odisha, for wrongly levying tax on PCM (percentile completion method) turnover and raised a demand of tax of ₹0.94 crore, interest of ₹0.98 crore and penalty of ₹0.09 crore under Section 73 of the Central Goods and Services Tax Act, 2017 and Odisha Goods and Services Tax Act, 2017. The company is in the process of filing an appeal against the said order.
Sanghvi Movers stock rallied 9% to hit a 52-week high of ₹1,283.75 on the NSE. The company announced the incorporation of subsidiary Sangreen Renewables Private Limited.
Paytm stock declined 1.08% on the NSE, trading at ₹398.
Aluminium prices marginally rose 0.02% to ₹209.30 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market.
Zinc prices on Tuesday fell 0.48% to ₹219.55 per kilogram in the futures trade as speculators reduced their exposure, taking negative cues from the spot market.
Coriander prices on Tuesday decreased ₹62 to ₹7,708 per quintal in futures trade as participants reduced their bets following weak demand in the spot market.
Cottonseed oil cake prices on Tuesday decreased ₹26 to ₹2,636 per quintal in futures trade as participants reduced their bets following weak trends in spot markets."