Stock Market Updates: Sensex Declines 200 Pts, Nifty Below 26,000

Stock Market Updates: Benchmark Sensex declined 212.54 points to 84,716.07 in early trade. Nifty dropped 52.2 points to 25,886.85.

In the pre-opening session on Tuesday, benchmark indices were trading lower. The Sensex dropped 79.94 points, or 0.09 percent, to 84,848.67, while the Nifty fell 49.70 points, or 0.19 percent, to 25,889.30.

Markets are poised for a positive start today, buoyed by optimism in the Gift Nifty index following steady gains in the US markets overnight.

With the Sensex and Nifty nearing significant milestones of 85,000 and 26,000 respectively, the momentum in Asian and European indices will be crucial in determining the continuation of the rally in domestic markets.

Asian shares advanced Tuesday, with Chinese markets logging the biggest gains after the central bank announced a slew of measures to support the economy.

Sensex jumped 384 points to close at a new all-time high on Monday, driven by gains in energy, select banking and auto shares amid continued optimism over the US Fed rate cut and positive Asian markets.

Rallying for the third day running, the 30-share BSE Sensex jumped 384.30 points, or 0.45 per cent, to settle at an all-time high of 84,928.61.

During the day, it soared 436.22 points, or 0.51 per cent, to hit a fresh lifetime intra-day peak of 84,980.53.

The NSE Nifty rose 148.10 points, or 0.57 per cent, to close at a record peak of 25,939.05. During the day, it zoomed 165.05 points, or 0.63 per cent, to reach a new intra-day all-time high of 25,956.

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Asian shares advanced today, with Chinese markets logging the biggest gains after the central bank announced a slew of measures to support the economy.

Shares in Hong Kong jumped 2%. U.S. futures edged lower while oil prices gained.

The Hang Seng in Hong Kong surged more than 400 points to 18,604.26, while the Shanghai Composite index was up 0.9% at 2,772.58.

In Tokyo, the Nikkei 225 index climbed 0.7% to 37,974.98, while the Kospi in Seoul was nearly unchanged at 2,602.30.

Australia’s S&P/ASX 200 fell 0.3% to 8,126.30.

On Monday, the S&P 500 rose 0.3% to 5,718.57, edging past its record set on Thursday. The Dow Jones Industrial Average added 0.1% to its own all-time high set on Friday and closed at 42,124.65. The Nasdaq composite gained 0.1% to 17,974.27.