The Nifty50 barometer of the National Stock Exchange (NSE) moved in a range of 11,582.55 and 11,461.00.

Domestic stock markets swung between gains and losses on Tuesday. The S&P BSE Sensex rose as much as 93.66 points to hit 38,814.23 and slipped as much as 284.7 points to an intraday low of 38,435.87. The Nifty 50 barometer of the National Stock Exchange (NSE) moved in a range of 11,582.55 and 11,461.00, logging a swing of 121.55 points compared with its previous close of 11,558.60. By afternoon, stock markets were trading with losses. At 2:19 pm, the Sensex traded at 38,717.12, down 3.45 points or 0.01 per cent from the previous close, and the Nifty was at 38,717.12, down 10.70 points or 0.09 per cent.

Top laggards on the 30-scrip index were Tata Consultancy Services, Asian Paints, HDFC, HCL Tech, ITC and HDFC Bank, trading between 1.13 and 1.95 per cent lower.

Titan, UPL, GAIL, Tata Consultancy Services and Asian Paints- trading between 1.66 per cent and 12.80 per cent lower - were among the main losers on the 50-scrip benchmark index.

Titan Company fell as much as 14.37 per cent, marking its biggest single-day fall in over three years, after the watch and jewellery maker said revenue from its jewellery segment grew by a muted 13 per cent in the first quarter as consumer demand in June was hit by a sharp increase in gold prices.

The government's proposal to increase the public float by 10 per cent, a surcharge on foreign portfolio investors (FPIs) and a 20 per cent tax on buyback of securities in the annual budget on Friday dealt a heavy blow on the stock markets on Monday. Finance Minister Nirmala Sitharaman raised the income tax surcharge on people with an annual income of more than Rs 2 crore leading to a sharp selloff in the stock markets led by foreign portfolio investors.

(With inputs from Reuters)