Noida, Sep 22 (APAC Media): Indian equity benchmarks BSE Sensex and NSE Nifty ended lower on Tuesday after a volatile trading session, as selling in key sectors and caution ahead of the weekly derivatives expiry weighed on investor sentiment.
The Nifty 50 fell 85.30 points, or 0.36 per cent, to close at 23,329, while the BSE Sensex declined 329.91 points, or 0.44 per cent, to settle at 74,529.08.
The market opened on a firm note, tracking gains in several Asian markets and softer crude oil prices. However, the early momentum faded as investors turned cautious and profit-taking emerged in heavyweight stocks.
Information technology stocks were among the major drags on the benchmarks. The Nifty IT index declined during the session, with investors remaining watchful about demand conditions and the earnings outlook for the sector.
Among individual stocks, Bajaj Finserv, Trent, Bajaj Finance, Sun Pharmaceutical Industries and Tata Consultancy Services were among the notable losers. Coal India moved in the opposite direction, gaining more than 3 per cent after Morgan Stanley upgraded the stock. Shares of IndiGo also advanced during the session.
The broader market remained under pressure, with banking and mid-cap stocks also witnessing selling. Several sectoral indices closed in negative territory, reflecting a cautious mood across the market.
Global developments remained an important factor for investors. Crude oil prices eased during the session amid reports related to the possibility of developments involving Iran and the Strait of Hormuz. Lower oil prices provided some relief to oil-importing economies such as India, although geopolitical uncertainty continued to keep investors cautious.
The Indian rupee strengthened against the US dollar and closed at around ₹95.59, compared with ₹95.82 in the previous session.
Tuesday’s decline came after a strong rally in the previous session, when the Sensex had gained more than 560 points and the Nifty had advanced nearly 68 points.
Market participants are now expected to track global crude prices, foreign institutional investor flows, currency movements and developments in US-Iran relations. Investors will also watch upcoming economic data and monetary policy signals for further cues on the direction of domestic equities.
The sharp swings during Tuesday’s session highlighted continued volatility in the market, with investors balancing domestic factors against developments in global markets and geopolitical conditions.
–ENDS–
Disclaimer: This article is for informational purposes only and is based on publicly available information. APAC Media is not responsible for investment decisions or losses. Please conduct your own research or consult a financial adviser before investing.
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