In the barometer index, the barometer index, the S&P BSE Sensex was down 34.74 points or 0.04% to 79,441.45. The Nifty 50 index lost 18.10 points or 0.07% to 24,123.85.

The Sensex and Nifty clocked an all-time high of 79,855.87 and 24,236.35, respectively in early trade.

In the broader market, the S&P BSE Mid-Cap index declined 0.57% and the S&P BSE Small-Cap index rose 0.07%.

The S&P BSE Mid-Cap and S&P BSE Small-Cap index hit an all-time high at 46,869.53 and 53,297.26, respectively. The market breadth was positive.

Among the sectoral indices, the Nifty IT index (up 1.17%), the Nifty Media index (up 1.05%) and the Nifty Realty index (up 0.83%) outperformed the Nifty 50 index.

Meanwhile, the Nifty PSU Bank index (down 1.81%), the Nifty Private Bank index (down 0.88%) and the Nifty FMCG index (up 0.85%) underperformed the Nifty 50 index.

Numbers to Track:

The yield on India's 10-year benchmark federal shed 0.04% to 7.010 as compared with previous close 7.013.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.5050, compared with its close of 83.4400 during the previous trading session.

MCX Gold futures for 5 August 2024 settlement fell 0.10% to Rs 71,580.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.12% to 106.03.

The United States 10-year bond yield declined 0.45% to 4.459.

In the commodities market, Brent crude for September 2024 settlement gained 70 cents or 0.81% to $87.30 a barrel.

Global Markets:

European market declined on Tuesday as traders look ahead to the release of the euro zone's latest inflation data.

Asian stocks ended mixed on Tuesday as investors pondered what the U.S. Supreme Court's immunity decision meant for former president Donald Trump.

Megacap growth stocks, like Apple and Tesla, propelled the tech-heavy Nasdaq to a strong start for the new quarter. The broader market also participated in the gains, with the Dow and S&P 500 edging higher in pre-holiday trading.

Investors are awaiting key U.S. labor market data later this week, hoping for insights into the Federal Reserve's interest rate plans. The Dow Jones Industrial Average rose 0.13%, the S&P 500 gained 0.27%, and the Nasdaq Composite surged 0.83%. Notably, the tech sector jumped 1.3% in the first trading session of July.

While the US manufacturing PMI data for June indicated continued contraction, a bright spot emerged: prices paid dropped to a six-month low. This could be a welcome sign for the Fed's fight against inflation. Despite this, market expectations remain for around two interest rate cuts later this year, beginning in September, according to LSEG FedWatch.