NSE Nifty was down by 0.04 per cent or 9.20 points at 21,721.40 points, while the BSE Sensex was at 71,811.46, down by 0.25 per cent or 140.02 points. A total of 3,202 stocks were actively traded, 1,889 advanced, while 1,204 declined and 109 stocks remained unchanged . A total of 299 stocks hit a 52-week high, and 12 stocks hit a 52-week low at 10 am on Tuesday. 

Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, “It appears that strong DII and retail support, and the consequent resilience of the market is forcing FIIs to reduce their selling. Fed commentary on Wednesday will influence US bond yields, and, consequently FII strategy.

Large caps such as RIL, Bharti Airtel, L&T and ICICI have the strength to support the market.

In the near-term, expectations regarding the Budget will influence the market. The market doesn’t expect any major changes in taxation relating to the capital market.”

Major gainers on the NSE at 9:30 am include ONGC (1.82%); Hindalco (1.66%); Hindustan Unilever (1.40%); JSW Steel (1.23%); Tata Steel (1.04%). Major losers include, Bajaj Finance (-4.10%); Bajaj Finserv (-2.13%); Adani Enterprises (-1.15%); SBI Life (-1.08%); Ultratech Cement (-1.02%)

The BSE Midcap was up by 0.41 per cent, and the BSE Smallcap by 0.64 per cent indicating gains. 

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