Sensex Today: Indian equities stayed under pressure on Tuesday amid a downbeat global sentiment. The S&P BSE Sensex slipped 316 points, or 0.48 per cent, to settle at 65,512 levels, while the Nifty50 ended at 19,529, falling 110 points or 0.56 per cent.
The indices were off their respective intraday lows of 65,345 and 19,480.
ONGC, Eicher Motors, Hindalco, Maruti Suzuki, Dr Reddy’s Labs, NTPC, BPCL, Sun Pharma, Tata Motors, UPL, Hero MotoCorp, ICICI Bank, HDFC Bank, JSW Steel, Coal India, Adani Enterprises, ITC, and Reliance Industries fell in the range of 1 per cent to 3.8 per cent.
In the broader markets, the key indices outperformed the frontline indices with the BSE MidCap index gaining 0.09 per cent, and the BSE SmallCap index advancing 0.6 per cent.
Among sectors, the Nifty PSU Bank index zoomed 2.3 per cent on the NSE, followed by the Nifty Media and Realty indices. On the downside, the Nifty Auto index fell over 1 per cent amid mixed trend in September auto sales.
“The major negative for the near-term will continue to be the sustained FII selling, which touched Rs 26,689 crores in the cash market in September. The dollar index rising above 107 and the US 10-year bond yield at 16-year high of 4.68 % are major headwinds for the market since FIIs are likely to continue selling in response to the rising dollar and US bond yields,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
But, on the positive side, the bulls will be emboldened to buy on the back of the tailwind of the 5% crash in Brent crude prices, Vijayakumar added.
Deepak Jasani, Head of Retail Research at HDFC Securities said, “Any level above 19767 would confirm the bullish trend reversal, while the level below 19,492 would resume the downtrend in the Nifty.”
Global Markets
Asian shares fell after Federal Reserve officials cemented the view that US interest rates are likely to remain elevated for some time.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.36% to their lowest since Nov. 28, 2022. Japan’s Nikkei fell 1.6%, while Hong Kong’s Hang Seng Index was 3.2% lower. Chinese markets were closed for the week because of the Golden Week Holiday.
Meanwhile, Wall Street stocks finished mixed on Monday despite the US government striking a deal to avert a shutdown. The Dow Jones Industrial Average slipped 0.2%. The broad-based S&P 500 was flat, while the tech-rich Nasdaq Composite Index advanced 0.7%
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