Nifty, Sensex Fall As HDFC Bank, Tata Motors, Grasim Weigh: Midday Market Update

India's key stock indices fell through midday on Tuesday, following a flat opening, weighed by index heavyweights HDFC Bank Ltd., Tata Motors Ltd., and Grasim Industries Ltd.

At 11:45 p.m., the NSE Nifty 50 was trading 0.12%, or 28 points, lower at 24,314.10, and the BSE Sensex fell 0.16%, or 128 points, to trade at 79,520.92. The Nifty had opened flat at 24,342.35, and the Sensex opened 0.12% lower to 79,552.51.

"The market is expected to remain range-bound as investors await key US inflation data. Despite this, sector-specific movements are likely, and any significant declines may present buying opportunities. The overall market sentiment remains bullish due to strong economic data and positive quarterly results," said Vikas Jain, head of research at Reliance Securities.

Shares of Reliance Industries Ltd., Titan Company Ltd., Bharti Airtel Ltd. and Larsen and Toubro Ltd. contributed the most to the gains in the Nifty 50.

While those of HDFC Bank Ltd., Tata Motors Ltd., and Grasim Industries Ltd. weighed on the index.

On NSE, seven sectors advanced and five declined. The NSE Nifty Pharma rose the most, while the NSE Nifty Finance fell the most.

The broader indices were trading in the green, with the BSE Midcap and Smallcap gaining 0.07% and 0.23%, respectively, through midday on Tuesday.

Eight sectoral indices on the BSE were trading in the red, led by BSE Financial Services. Twelve were trading higher, with BSE Consumer Durables in the lead.

The market breadth was skewed in the favour of the sellers. Around 1,902 stocks declined, 1,808 advanced, and 145 remained unchanged on the BSE.