Markets gave up early gains to trade lower; Sensex quotes 309 points lower

Sensex and Nifty face volatile trends, awaiting global and domestic triggers, with heavy selling in Reliance and Zomato.

Benchmark indices Sensex and Nifty faced volatile trends in early trade on Tuesday (January 21, 2025), surrendering their initial gains to trade lower, following heavy selling in Reliance Industries and Zomato.

Traders said the market appears to be awaiting triggers from both global as well as domestic developments.

The 30-share BSE benchmark Sensex climbed 224.28 points to 77,297.72 in early trade. The NSE Nifty also went up by 81.55 points to 23,426.30.

However, soon both the benchmark indices slipped in negative territory. The BSE benchmark quoted 309.55 points lower at 76,763.89, while the Nifty traded with a cut of 41.45 points at 23,303.30.

From the 30-share blue-chip pack, Zomato, Adani Ports, Kotak Mahindra Bank, Reliance Industries, NTPC, State Bank of India, ICICI Bank and Bharti Airtel were among the laggards.

UltraTech Cement, Tata Motors, Sun Pharmaceuticals, ITC, HCL Technologies, Bajaj Finserv, Asian Paints and Larsen & Toubro were the gainers.

Domestically, the spotlight remains on major corporate earnings and anticipation surrounding the upcoming budget, according to market experts.