The Stock Market closed marginally lower on Tuesday snapping a three-day winning streak. Sensex was down 110.64 points or 0.15% at 73,903.91, and Nifty 8.70 points, or 0.04%, at 22,453.30.

In a sector-wise analysis, the realty, metal, oil and gas, media, power and auto were up 1-2%, while the information technology and telecom indices were down 0.5% each.

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A volume spike of over 300% was seen in Aditya Birla Fashion & Retail, Zee Entertainment Enterprises and Crompton Greaves Consumer Electrical.

Nifty Realty index surged more than 2% to hit an all-time of 959.1 after global brokerage firm Morgan Stanley raised stock target prices of DLF, Prestige Estates, Godrej Properties, and Macrotech Developers.

Nifty Media, Nifty Metal, and Nifty Auto indices also joined the bull party and rose over 1% each.

Nifty IT index was the top laggard as it slipped around 0.7% in trade, followed by Nifty Financial Services, and Nifty Pharma indices.

Cement stocks have gained on Tuesday as the reports suggested that cement companies have taken an average price hike in the range Rs 10-15 per bag.

Shares of UltraTech Cement, Shree Cements, Ambuja Cements, ACC and Dalmia Bharat closed trading with gains in the range of 1 to 3%.

Interestingly, the shares of One 97 Communications, the parent company of Paytm, rose nearly 3% after reports said the company has resumed the lending activities.

According to the reports, the Paytm has resumed lending activities starting with merchant loans, with their existing partnership with SMFG India Credit and Shriram Finance.

The telecom shares like Bharti Airtel, Reliance Industries and Vodafone Idea were slightly changed in the morning trading.

The development comes after the Telecom Regulatory Authority of India (TRAI) data showed muted subscriber additions in January.

Reliance Jio led the market with 41.8 lakh mobile subscriber addition in January, followed by Bharti Airtel’s 7.52 lakh. Vodafone Idea lost 15.2 lakh wireless subscribers, the data showed.

The BSE smallcap gauge jumped 1.28% and the midcap index climbed 1.14%.

Analysts believed that the mid and small-cap stocks continued their recovery rally, although concerns about high valuations lingered.

The rupee consolidated in a narrow range and settled 4 paise lower at 83.43 against the US dollar, weighed down by a strong dollar and elevated crude oil prices.

Forex traders said a weak trend in domestic equities also dented investor sentiments.

Rupee opened at 83.37, then touched an intraday high of 83.34 and a low of 83.44 against the greenback.

On the global landscape, the Japanese currency Yen dropped to its lowest level since 1990, following a meeting of Japan’s leading monetary authorities.

Analysts anticipate that the recent 34-year low in the Japanese yen will likely bring positive effects to the Indian automotive sector and companies involved in importing electronic items, machinery, and auto components from Japan.

Investors are eagerly anticipating guidance from the upcoming RBI monetary policy announcement for insight into near-term market direction.