Noida, Sep 29 (APAC Media): Indian benchmark equity indices BSE Sensex and NSE Nifty ended lower on Tuesday, extending their decline for a second consecutive session as investors remained cautious amid elevated crude oil prices, rising US bond yields and continued selling by foreign investors.
The BSE Sensex fell 242.65 points, or 0.33%, to close at 72,529.07. The NSE Nifty50 declined 64.05 points, or 0.28%, to end at 22,716.20, slipping below the 22,750 marks.
Trading remained volatile through the session, with investors closely tracking global market cues, movements in crude oil prices and fund flows. The benchmarks recovered from their intraday lows but failed to sustain gains, reflecting persistent caution among market participants.
The broader market also remained weak. The Nifty Midcap 100 index declined about 0.99%, while the Nifty Smallcap 100 fell 0.81%. The broader declines indicated selling pressure across a wider section of the market rather than only in large-cap stocks.
Sectoral performance was mixed. Pharmaceutical and metal stocks recorded gains, while information technology and banking shares faced pressure. Among major Sensex constituents, Adani Ports, Sun Pharmaceutical Industries, Tata Steel and Kotak Mahindra Bank were among the notable gainers. Trent, HCL Technologies and Tata Consultancy Services were among the stocks that ended lower.
Tata Chemicals was among the major laggards in Tuesday’s session, declining around 4.5%, while Tata Investment Corporation also ended lower. Tata group stocks remained under focus as investors tracked developments related to Tata Sons, the group’s holding company, including discussions around its ownership structure and the possibility of a future listing.
Global factors continued to influence domestic sentiment.
Brent crude prices traded around $105-$106 a barrel, raising concerns over the impact of higher oil costs on India’s import bill, inflation and corporate profitability. India imports a significant portion of its crude oil requirements, making movements in international oil prices an important factor for domestic markets.
US Treasury yields also remained elevated, with the 10-year yield moving above 5.2%. Higher US yields can increase pressure on emerging-market assets and currencies by encouraging flows towards dollar-denominated investments.
Foreign portfolio investors remained sellers in Indian equities. Data showed that foreign investors sold shares worth around Rs 5,353 cr on Monday, taking their September net selling to about $2.17 billion. Domestic institutional investors continued to provide some support.
The rupee traded near Rs 95.9 against the US dollar, while gold and silver prices remained elevated.
Investors are expected to monitor crude prices, global bond yields, currency movements and foreign fund flows for further market direction. Geopolitical developments and upcoming economic and corporate data are also likely to influence sentiment in the near term.
–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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