At 09:28 IST, the barometer index, the S&P BSE Sensex, was down 89.1 points or 0.16% to 54,432.05. The Nifty 50 index lost 23.05 points or 0.14% to 16,255.45
In the broader market, the S&P BSE Mid-Cap index rose 0.27% while the S&P BSE Small-Cap index added 0.39%.
The market breadth was strong. On the BSE, 1,618 shares rose and 840 shares fell. A total of 115 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 156.08 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 844.33 crore in the Indian equity market on 18 July, provisional data showed.
Stocks in Spotlight:
Jubilant FoodWorks fell 1.21%. Jubilant Foodworks Netherlands B.V. (JFN), wholly owned subsidiary of the company has increased its stake in DP Eurasia N.V. (DPEU) through various onmarket purchases.
Hero MotoCorp rose 0.02%. The company launched an exclusive Rally Edition of its widely popular motorcycle Xpulse 200 4V.
IndusInd Bank fell 0.31%. The private lender said its board has approved a proposal to raise Rs 20,000 crore in debt to fund business growth. The bank's board on 18 July 2022 approved the proposal of raising funds through debt securities in any permitted mode on a private placement basis as may be decided, for an aggregate amount not exceeding Rs 20,000 crore or its equivalent amount in such foreign currencies as may be necessary subject to approval of the members of the bank and receipt of other governmental/regulatory/statutory approvals, as applicable.
Global markets:
Most of the Asian stocks declined on Tuesday after a positive start to the week, and as investors digested Australia's central bank's meeting minutes.
The Reserve Bank of Australia released its meeting minutes on Tuesday, which showed that the board saw current rates as being "well below" the neutral rate, suggesting that further increases will be needed to return inflation to the target over time. The RBA raised rates by 50 basis points earlier this month.
Wall Street ended lower on Monday after bank stocks erased earlier gains and Apple shares fell on a report saying the company plans to slow hiring and spending growth next year.
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