Sensex down 300 pts, Nifty below 17100, resistance at 17200; RIL, Powergrid top gainers

Share Market News Today | Sensex, Nifty, Share Prices LIVE: The benchmark indices opened lower as global sentiment remained subdued amid a sharp rally in oil prices again. The BSE Sensex fell 300 points to below 57,050 levels, while the NSE Nifty was at 17,040, lower by 80 points. In the broader markets, the BSE MidCap and SmallCap indices were also in red, trading 0.9 per cent and 0.4 per cent lower, respectively. Sectorally, Nifty Bank, Auto FMCG, Financials, Realty and Auto were all in red with losses between 1-2 per cent. On the flipside, Oil & Gas, IT and Metal indices were bucking the overall trend, trading up to 1.5 per cent higher. Reliance Industries, Powergrid, Tata Steel, Tech Mahindra and Sun Pharma were among the top gainers, while HUL, Nestle, Asian Paints, Axis Bank and SBI were the laggards.

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Vedanta hits fresh 52-week high, shares rally 13% so far this year; should you buy now or sell?

Vedanta share price soared nearly 3% on Tuesday morning to hit a fresh 52-week high as the mining major extended its year-to-date gains to more than 13%. In a recent analyst meeting, the company’s management shed light on its debt reduction plans at the parent level and said that they remain upbeat on demand for metals and minerals on the back of a surge in demand for EVs and renewable energy. Analysts see further upside in Vedanta’s share price while advising investors to buy more shares of the company. Vedanta shares were trading 2.9% higher at Rs 412.75 per share on Tuesday morning.

Broader markets mixed

BSE MidCap and SmallCap indices were mixed with the former down by 0.2 per cent, and the latter in green with equal gains.