Stock market today: Domestic equity benchmarks Nifty50 and Sensex settled in red on Tuesday, April 9, as a fag-end sell-off in oil & gas stocks offset gains in financial and technology stocks.

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The Nifty index lost 23.55 points or 0.1 per cent to end at 22,642.75, having reversed course after scaling an all-time high of 22,768.4 in the early trade, and the Sensex settled at 74,683.7, down 58.8 points or 0.08 per cent from its previous close. Benchmark equity index Sensex breached the historic 75,000 mark for the first time in early trade today.

Among the widely-tracked Nifty 50 stocks, 34 slipped at close and the rest, 16 advanced. Titan, Hero MotoCorp, Coal India, RIL, and Asian Paints were the top losers on the Nifty50, while notable gainers were Apollo Hospitals, Hindalco, ICICI Bank, Infosys, and Bajaj Finserv.

"The Indian market reached a fresh intraday peak before seeing profit-booking at higher levels in anticipation of tomorrow's key US inflation data, which carries weight in determining future rate cuts by the US Fed. Concerns have emerged amidst recent better-than-anticipated US employment and manufacturing data, suggesting a potential shift in expectations regarding rate cuts this year," Vinod Nair, Head of Research, Geojit Financial Services, said. 

Nifty Bank ended at 48,730.55, up 148.85 points, or 0.31 per cent. The Nifty SmallCap 100 rose 0.27 per cent while the Nifty Midcap 100 closed 0.29 per cent lower. 

"Moreover, escalating geopolitical tensions in the Middle East, alongside supply concerns, have propelled crude prices upward, impacting overall market sentiment. In the near term, the focus will shift to Q4 earnings, which will kick off this weekend," Nair added. 

Global Market 

European shares slipped on Tuesday ahead of this week's US inflation data and a European Central Bank monetary policy decision, while diagnostics firm Biomerieux was set for its best day in more than two years on a new strategic plan.

The pan-European STOXX 600 index was down 0.2 per cent, as of 0838 GMT after notching its strongest session in more than two weeks on Monday.

Traders kept away from big bets ahead of the U.S. inflation data on Wednesday and the ECB's decision on Thursday, which could determine the outlook for interest rate cuts.

(With agency inputs)

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