Sensex opens lower by 601 points, turn volatile later

Equity benchmarks began the trade on a weak note on Tuesday, August 23, 2022, amid a sell-off in world stock markets but later traded with high volatility.

The 30-share BSE Sensex fell 601.39 points to 58,172.48 in early trade. The broader NSE Nifty declined 145.5 points to 17,345.20.

Later, both the benchmark indices turned volatile swinging between gains and losses. The Sensex quoted 88.72 points higher at 58,862.59, while the Nifty climbed 33.50 points to 17,524.20 after initial decline.

From the Sensex pack, Infosys, Tech Mahindra, HCL Technologies, Wipro, Tata Consultancy Services, IndusInd Bank, Dr Reddy’s Lab and HDFC Bank were the major laggards in early trade.

On the other hand, Mahindra & Mahindra, Bajaj Finserv, Tata Steel and UltraTech Cement were trading higher.

In Asia, markets in Seoul, Tokyo and Hong Kong were trading lower, while Shanghai quoted in the green in mid-session deals.

The Wall Street had ended sharply lower on Monday.

Meanwhile, the international oil benchmark Brent crude was trading 0.79 per cent higher at USD 97.22 per barrel.

Foreign Institutional Investors (FIIs) offloaded shares worth ₹453.77 crore on Monday, according to exchange data.