This is how analysts read the market pulse:
Continued weakness in the INR to fresh record lows, driven by continued financial outflows and subdued global sentiment, has pushed domestic markets into negative territory, said Vinod Nair, head of research at Geojit Investments. He added that smallcaps and midcaps lagged largecaps, with IT, metals, banking and real estate leading losses, while consumer stocks provided limited support. “Volatility is expected to remain elevated amid currency fluctuations and uncertainty over foreign inflows. Progress on the US-India trade deal and stabilization of the rupee will be key, while softer commodity prices and better earnings visibility provide a constructive medium-term backdrop,” Nair said.
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American markets
Stocks on Wall Street were little changed early Tuesday as markets absorbed U.S. data pointing to a slower labor market, while Ford advanced despite announcing a $19.5 billion cost increase.
The US unemployment rate rose from 4.4 percent in September to 4.6 percent in November. The US economy lost 105,000 jobs in October, but added 64,000 in November.
European markets
European shares remained subdued on Tuesday after gains in heavyweight financial and healthcare stocks were tempered by sharp declines in defense and technology stocks, while investors turned cautious ahead of crucial US employment data.The pan-European STOXX 600 rose 0.2% to 583.39 as of 0912 GMT, after posting its biggest daily gain in almost three weeks on Monday.
Major regional stock exchanges were generally higher, with those in Spain and France up 0.3% each.
Technical view
The day went in favor of the bears as the Nifty remained below the key 200 SMA on the hourly chart throughout the session, said Rupak De, Senior Technical Analyst at LKP Securities. He added that the index failed to retest the morning high, indicating the bears are in full control.
“On the other hand, the support at 25,870 was breached, reinforcing bearish sentiment in the market. In the short term, the index may drift lower towards 25,700 and lower. On the upside, the 25,950-26,000 zone is likely to act as a crucial resistance in the short term,” De said.
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Most active stocks in terms of turnover
HDFC Bank (Rs 1,994 crore), Vedanta (Rs 1,908 crore), RIL (Rs 1,812 crore), ICICI Bank (Rs 1,685 crore), Eternal (Rs 1,682 crore), Axis Bank (Rs 1,423 crore) and BSE (Rs 1,363 crore) were among the most active stocks on BSE in value terms. 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
Vodafone Idea (shares traded: Rs 71.28 crore), Tata Teleservices (shares traded: Rs 13.34 crore), Ola Electric Mobility (shares traded: Rs 7.19 crore), Eternal (shares traded: Rs 5.86 crore), YES Bank (shares traded: Rs 5.83 crore), Reliance Power (shares traded: Rs 3.94 crore) and Vedanta (shares traded: Rs 3.4 crore) were among the most actively traded stocks on NSE by volume.
Stocks that show buying interest
Shares of Kirloskar Oil, Tata Teleservices, Reliance Infrastructure, Triveni Engineering & Industries, Leela Palaces Hotels & Resorts, The Fertilizers and Chemicals Travancore and LT Foods were among the stocks that witnessed strong buying interest from market participants.
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52 Week High
More than 103 stocks hit their 52-week highs today, while 139 stocks fell to their 52-week lows. Vedanta and Tata Motors CV were among those that hit 52-week highs.
Stocks see selling pressure
Stocks that witnessed significant selling pressure were Ola Electric Mobility, Policy Bazaar, Transformers & Rectifiers, Axis Bank, Eternal, Swiggy and Aavas Financiers.
Sentiment gauge bearish
Market sentiment was bearish. Of the 4,335 shares traded on the BSE on Tuesday, 2,523 shares saw a decline, 1,654 rose, while 158 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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