Sensex Down 350 Points, Nifty Below 22K; TCS Sheds 3%, Paytm Up 3%

Equity benchmark indices started Tuesday’s trading session on a tepid note amid mixed cues from the global peers, as traders awaited cues from the upcoming US Federal Reserve meeting later tomorrow.

The S&P BSE Sensex opened 285 points lower at 72,463. The NSE Nifty 50 was seen quoting around 21,950 levels.

TCS slipped 2 per cent to Rs 4,055 amid reports that Tata Sons was to divest a 0.65 per cent stake (23.4 million shares) via block deal at a floor price of Rs 4,001 per share today.

HDFC Bank, Power Grid, NTPC and Hindustan Unilever were the other notable losers. On the other hand, HCL Technologies and Sun Pharma gained around 0.5 per cent each.

The broader indices, however, started the day on a positive note. The BSE MidCap inded advanced 0.2 per cent, while the SmallCap added 0.3 per cent.

Global cues

In Asia this morning, Nikkei and Hang Seng slipped 0.7 per cent each. Kospi declined 1.3 per cent, whle Shanghai, Straits Times and Taiwan were marginally in red.

Overnight in the US, the S&P 500 and Nasdaq gained up to 0.8 per cent ahead of the US Fed meet later this week, where the central bank is expected to keep rates steady and provide cues on its monetary policy trajectory. Dow Jones added 0.2 per cent.

The US 10-year treasury bond yield quoted around 4.33 per cent in the run-up to the US Fed meet. Brent Crude Oil futures hovered around $87 per barrel.