The Domestic Equity Index erased the initial gains within an hour as the Sensex fell by over 100 points to 80,398.66, while the Nifty traded below 24,500. Earlier in the morning, the stock market rallied in early trade on Tuesday, with the Sensex rising by more than 264 points ahead of the Union Budget presentation later in the day, as investor sentiment improved on the back of foreign capital inflows and a rally in US peers.

The stock market at the start of the day

The index of the top 30-share on BSE 'Sensex' climbed 264.33 points to 80,766.41. The NSE Nifty gained 73.3 points to 24,582.55. Ultratech Cement, Mahindra & Mahindra, ITC, Larsen & Toubro, and NTPC were the biggest gainers in the Sensex pack.  HCL Tech, JSW Steel, Power Grid, and Tata Steel were among the laggards. However, both benchmark indices later faced heavy volatile trends and traded similarly.

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According to exchange data, foreign institutional investors purchased equities worth Rs 3,444.06 crore on Monday. Seoul trades more in the Asian market, while Tokyo, Shanghai, and Hong Kong trade less.

The Global Market

The US markets ended in positive territory on Monday. Brent crude, the global benchmark, climbed 0.02 percent to $82.42 a barrel.

The benchmark BSE declined for the second consecutive day and fell 102.57 points, or 0.13 percent, to 80,502.08 on Monday. The NSE Nifty fell 21.65 points or 0.09 percent to 24,509.25.

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(With PTI's Input)