The S&P BSE Sensex fell 0.18% to 84,628.16, down 150.68 points, while the NSE Nifty 50 fell 0.11% to 25,936.20.
This is how analysts read the market pulse:
The domestic market remained volatile in negative territory and ended flat, pressured by month-end profit bookings and weak global signals. Nevertheless, the metals sector gained on renewed optimism following China’s announcement to curb overcapacity in the steel sector and potential progress in US-China trade ties, while PSU banks outperformed amid reports of a possible increase in FII holding limits, said Vinod Nair, head of research at Geojit Investments.
“Notably, buying interest emerged at lower levels, reflecting underlying investor confidence. Market sentiment is expected to be supported by easing global trade tensions and expectations of a rise in domestic corporate earnings, which continue to strengthen resilience,” Nair said.
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American markets
Wall Street’s three major indexes hovered around record highs on Tuesday, buoyed by shares of mega-cap tech stocks such as Microsoft and Apple in a week of gains from US heavyweights. Microsoft rose 2.2% after reaching a deal that will allow OpenAI to restructure into a public utility company, while Microsoft picked up a 27% stake in the ChatGPT maker. Apple shares surpassed a $4 trillion market cap for the first time earlier in the day, hitting a record high before easing to trade flat. Strong demand for the latest iPhone models has allayed fears about slow progress in the AI race.
Microsoft, Alphabet, Apple, Amazon and Meta will report results later this week, with investors scrutinizing any AI-related updates to justify high valuations and hefty investments.
European markets
European shares fell after three straight record highs as investors evaluated a slew of corporate earnings and awaited the Trump-Xi meeting on possible trade progress.
Europe’s STOXX 600 fell 0.2% after hitting a record high on Monday. The major stock exchanges in Frankfurt and Paris remained virtually unchanged that day, while the British FTSE 100 reached a new peak.
The Spanish IBEX also reached a new record high, surpassing its previous peak at the start of the financial crisis in 2007.
Technical view
The market remained highly volatile on the NSE monthly F&O expiry, said Rupak De, Senior Technical Analyst at LKP Securities, adding that the overall chart setup on the daily time frame remains intact with the Nifty trading well above the 21 EMA, keeping the bullish bias intact.
“The RSI is in a bullish crossover and remains in the high momentum zone. In the near term, the index may witness a decent rally if momentum moves above 26,000. On the higher side, resistance is seen at 26,300 while support is at 25,850,” De said.
Most active stocks in terms of turnover
ICICI Bank (Rs 3,606 crore), HDFC Bank (Rs 3,394 crore), RIL (Rs 2,618 crore), Bharti Airtel (Rs 2,067 crore), SBI (Rs 2,046 crore), Netweb Technologies (Rs 1,902 crore) and Chennai Petro (Rs 1,421 crore) were among the most active stocks by value on the BSE. Higher activity in a counter in terms of value can help identify the counters with the highest trading turnover per day.
Most active stocks by volume
Tata Steel (shares traded: Rs 5.95 crore), HDFC Bank (shares traded: Rs 3.39 crore), Eternal (shares traded: Rs 2.87 crore), ICICI Bank (shares traded: Rs 2.64 crore), SBI (shares traded: Rs 2.20 crore), RIL (shares traded: Rs 1.76 crore) and ITC (shares traded: Rs 1.76 crore) shares: 2.20 crore) 1.71 crore) were among the most actively traded shares volume terms on the NSE.
Stocks that show buying interest
Shares of IndusInd Bank, Tata Steel, L&T, SBI, Kotak Bank, Bharti Airtel and Tata Motors Passenger Vehicles were among the stocks that witnessed strong buying interest from market participants.
52 weeks high
More than 160 stocks hit their 52-week highs today, while 84 stocks fell to their 52-week lows. Among those that hit 52-week highs were Tata Steel, SBI and Bharti Airtel.
Stocks see selling pressure
Stocks that witnessed significant selling pressure were Bajaj Finserv, Bajaj Finance, ICICI Bank, Tech Mahindra, Power Grid, Nestle India and Mahindra & Mahindra.
Sentiment gauge bearish
Market sentiment was bearish. Of the 4,332 shares traded on the BSE on Tuesday, 2,246 shares saw a decline, 1,910 rose, while 176 shares remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of The Economic Times.)
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