Indian equity markets closed lower on Tuesday after a volatile session. Early optimism from strong GST data and the SCO summit lifted indices in morning trade, but profit booking and caution ahead of the GST Council meeting and F&O expiry weighed on sentiment.
The Sensex closed at 80,157.88, down 206.61 points or 0.26 per cent. It had opened higher at 80,520.09 and touched an intra-day high of 80,761.14 before slipping into negative territory. The Nifty ended at 24,569.60, down 45.45 points or 0.18 per cent.
Vinod Nair, Head of Research at Geojit Financial Services, said domestic equities gave up early gains as investors booked profits, with banking stocks leading the decline.
Sugar stocks gained on relaxed ethanol norms, while export-oriented companies advanced on dovish US remarks that renewed trade optimism. However, overall sentiment remained cautious, with focus on domestic consumption trends.
Among gainers were Mahindra & Mahindra, ICICI Bank, Asian Paints, Kotak Bank, Tata Motors, Ultratech Cement, L&T, HDFC Bank, Bharti Airtel, and Axis Bank. PowerGrid, NTPC, Tata Steel, Hindustan Unilever, BEL, Bajaj Finserv, and ITC also ended in positive territory.
Most sectoral indices slipped after initial gains. Nifty Bank fell 341 points or 0.63 per cent, Nifty Financial Services declined 170 points or 0.66 per cent, and Nifty Auto dropped 75 points or 0.29 per cent. Nifty IT closed flat, while Nifty FMCG rose 631 points or 1.12 per cent.
In the broader market, Nifty Midcap gained 151.90 points or 0.27 per cent, and Nifty Smallcap rose 93 points or 0.53 per cent.
The rupee traded slightly higher at 88.16, supported by expectations of GST rate cuts. Analysts said the dollar’s firmness at 98.30 and crude oil at $65.95 could limit the rupee’s upside in the near term.
LKP Securities’ Jateen Trivedi said FIIs remain cautious, and volatility is likely to continue, with the rupee trading in a range of 87.85–88.40 in the near term.
-IANS
