Stock Market Updates: Sensex Drops 200 pts, Nifty Below 18,700; HDFC AMC Rallies 8% – News18

Sensex Today: The S&P BSE Sensex was quoting 42 points lower at 63,126 levels, while the Nifty50 slipped 10 points to 18,745 levels.

HUL, Maruti Suzuki, Bajaj twins, IndusInd bank, UPL, ICICI Bank, Hero MotoCorp, and Divis Lab capped gains on the benchmarks, falling up to 0.7 per cent. On the flipside, HDFC Life, Apollo Hospitals, Tata Consumer Products, SBI Life, Adani Enterprises, Wipro, and Power Grid lent support.

In the broader markets, the BSE MidCap and SmallCap indices advanced 0.11 per cent and 0.25 per cent, respectively.

The Securities and Exchange Board of India (SEBI) has barred IIFL Securities from onboarding any new client for a period of two years on grounds of breach of the code of conduct regulations of stock brokers. The stock plunged 18 per cent in Tuesday’s trade following this update.

Global Cues

Oil prices were mixed on Tuesday ahead of a decision on lending benchmarks by China, with the world’s second-largest economy widely expected to cut key rates to shore up a slowing recovery.