Sensex, Nifty Turn Flat; Jio Fin Down 4%, IT Stocks Weak

Equity benchmark indices opened with cuts on Tuesday in line with weakness elsewhere in Asia. The BSE Sensex fell 130 points to 73,208 and the NSE Nifty50 slipped 23 points to 22,074.

JSW Steel, Tata Steel, Bajaj Finance, HDFC Bank, Asia Paints and Tata Motors led gains on the Sensex, while BPCL and Hindalco were the top Nifty winners.

On the flip side, HCLTech, Wipro, Tech M, NTPC, TCS and Infosys were among the top frontline drags.

The broader markets were relatively firm. The BSE MidCap and SmallCap indices held small gains of up to 0.2 per cent.

Among stocks, Jio Financial fell over 4 per cent after reporting 56 per cent QoQ fall in its Q3 profit. Paytm ticked 1 per cent higher as UBS initated coverage on the stock with a buy call.