The BSE Sensex fell 634 points, or 0.78%, to close at 80,737, while the NSE Nifty declined 174 points, or 0.7%, to settle at 24,542. Earlier in the session, the Sensex had plunged as much as 798 points to 80,575, while the Nifty touched a low of 24,502.
Here’s how analysts read the market pulse:
The domestic market remained in negative terrain amid mixed global cues, geopolitical issues and a volatile currency market led by a weak USD, said Vinod Nair, Head of Research, Geojit Investments, adding that profit booking is evident across sectors, except for real estate stocks, supported by expectations of an interest rate cut by the RBI. “Mid-cap and small-cap stocks are experiencing relatively less consolidation than large caps due to better earnings growth & moderation in premium valuation. While short-term consolidation is likely to persist, strong domestic oriented players are estimated to provide outperformance against external volatility,” said Nair.
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US markets
U.S. stock indexes edged higher on Tuesday, helped by gains in Nvidia and other chipmakers, as investors awaited possible negotiations between the United States and its trading partners for more clarity on Washington’s tariff plans.President Donald Trump and Chinese leader Xi Jinping are set to speak this week, the White House said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions.
The Trump administration wants countries to provide their best offer on trade negotiations by Wednesday as officials seek to accelerate talks with multiple partners ahead of a self-imposed deadline in just five weeks, according to a draft letter to negotiating partners seen by Reuters.
Tech View
The Nifty has extended its consolidation phase for yet another day, showing no urgency in establishing a clear directional trend, said Rupak De, Senior Technical Analyst at LKP Securities, adding that it appears that investors are awaiting a decisive commentary following the RBI’s interest rate decision.
“Technically, very short-term support is placed at 24,500. A fall below this level may trigger an increase in short positions, potentially leading to a swift decline towards 24,000. On the other hand, if the Nifty holds above 24,500, it could see a recovery towards the 24,700–24,750 zone in the near term,” said De.
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Most active stocks in terms of turnover
YES Bank (Rs 3,057 crore), Aptus Value Housing (Rs 2,797 crore), BSE (Rs 2,374 crore), HDFC Bank (Rs 2,357 crore), Eternal (Rs 2,211 crore), CDSL (Rs 2,126 crore) and Cochin Shipyard (Rs 2,021 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
YES Bank (Traded shares: 142.56 crore), Vodafone Idea (Traded shares: 67.90 crore), Ola Electric Mobility (Traded shares: 27.76 crore), Reliance Power (Traded shares: 16.85 crore), Suzlon Energy (Traded shares: 16.66 crore), Eternal (Traded shares: 9.18 crore) and Aptus Value Housing Finance (Traded shares: 9.07 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of FACT, Brainbees Solutions, India Cements, Rashtriya Chemicals & Fertilizers, Lloyds Metals, GRSE and Cochin Shipyard were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 108 stocks hit their 52 week highs today while 37 stocks slipped to their 52-week lows.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were YES Bank, Aptus Value Housing Finance, Ola Electric Mobility, Reliance Power, Suzlon Energy, Vodafone Idea and Sundaram Finance.
Sentiment meter bearish
The market sentiments were bearish. Out of the 4,144 stocks that traded on the BSE on Tuesday, 2,266 stocks witnessed declines, 1,731 saw advances, while 147 stocks remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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