New Delhi, 13 January (H.S.):

India's benchmark stock indices tumbled in early trade Tuesday after an initial upbeat opening, with selling pressure overwhelming fleeting buying support to drag both Sensex and Nifty into red territory by 10:00 AM. The BSE Sensex shed 244.44 points or 0.29 percent to 83,633.73, having opened 201.15 points higher at 84,079.32 before peaking at 84,258.03 and plunging to a session low of 83,578.56 amid relentless profit-taking.

Nifty Mirrors Downward Spiral

The NSE Nifty similarly started strong, gaining 107.10 points to open at 25,897.35 and touching 25,899.80 briefly, but capitulated under sales to hit 25,700.85 before stabilizing 83 points or 0.32 percent lower at 25,707.25 by 10:00 AM. This reversal capped a positive Monday close, where Sensex rose 301.93 points or 0.36 percent to 83,878.17, and Nifty climbed 106.95 points or 0.42 percent to 25,790.25.

Mixed Bag Among Blue-Chips

Heavyweights showed stark divergence: ONGC, Hindalco Industries, State Bank of India, Tech Mahindra, and Bharat Electronics advanced between 0.19 percent and 2.11 percent, bucking the trend. Conversely, Larsen & Toubro plunged 2.39 percent, followed by HCL Technologies, Trent Ltd, Reliance Industries, and Dr Reddy's Laboratories—all down 1.20 percent to 2.39 percent—in a broader market where 2,561 stocks traded actively.

Lopsided Breadth Signals Caution

Among these, 1,593 advanced versus 968 decliners, yet Sensex's 30 components split decisively with 25 down and only 5 up, while Nifty's 50 stocks featured 12 gainers against 38 losers. The intraday volatility underscores investor jitters, with no immediate catalysts pinpointed beyond profit booking after recent gains, as markets digest global cues and domestic earnings ahead.

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Hindusthan Samachar / Jun Sarkar