Financials, banks exert pressure on Nifty, small caps outperform benchmarks

By Malvika Gurung

Investing.com — Indian market indices traded on a negative note in Tuesday’s intraday session, tracking weak cues from Asian peers, while banking and financial packs exerted pressure on Dalal Street, led by Bajaj twins.

Benchmark index slipped below the 18,700 mark during the trading session, and retreated 0.16% to 18,724.75 levels at 02:09 ET (06:09 GMT).

The 30-scrip lost 133 points or 0.22% while writing, eroding 300 points earlier in the session. The market fear barometer jumped up to 2% to around 11.43 levels on Tuesday.

Sectoral indices listed under the Nifty umbrella traded mostly in the red, while and extended support. On the other hand, key index , , and declined 0.4% each.

Small-cap market index outperformed the headline peers, trading 0.4% higher at the time of writing.

On the Nifty 50 pack, HCL Tech (NS:), HDFC Life (NS:), Power Grid Corporation (NS:), and Hindalco (NS:) led the gains, while market heavyweights Bajaj Finserv (NS:), Bajaj Finance (NS:), M&M (NS:), and UltraTech Cement (NS:) pulled the index lower.

The leading stock broker Iifl Securities’ (NS:) shares plummeted 19.24% on Tuesday after the markets regulator SEBI prohibited the company from onboarding new customers for a period of two years.

Continue Reading: Stockbroker Major Crashes 19% As SEBI Bans Onboarding New Clients for 2 Years

On the flip side, shares of HDFC Asset Management Company (NS:) zoomed 9% despite its promoter Abrdn Investment Management selling off its entire 10.2% stake in the financial company via block deals on Monday.

Continue Reading: HDFC AMC Jumps 9% Despite UK-Based Promoter Exiting the Company