Sensex, Nifty Close Lower As RIL, Power Grid, SBI Drag: Market Wrap
India's benchmark stock indices ended marginally lower on Tuesday, dragged down by losses in Reliance Industries Ltd., Power Grid Corp. of India Ltd., and State Bank of India.
Information technology stocks advanced, while the real estate and public sector unit banking sectors declined. Nifty Midcap 100 and Nifty Pharma hit fresh record highs intraday.
Markets kicked off August on a cautious note as investors responded to the latest corporate updates and news on the health of China's economy. European stocks declined, with miners falling following weak data on China's manufacturing and property sectors.
U.S. equities futures edged lower after the S&P 500 closed at a 16-month high on Monday, while the Nasdaq 100 notched its longest streak of monthly gains since August 2020. The Australian dollar declined against the greenback after the nation's central bank held interest rates unchanged.
Shares in Japan, Australia, and South Korea rose. Mainland China and Hong Kong shares inched lower, breaking the six-session gain streak.
The S&P BSE Sensex closed 68 points, or 0.10%, lower at 66,459.31, while the NSE Nifty 50 declined 20 points, or 0.10%, to end at 19,733.55.
Coal India Ltd., HDFC Bank Ltd., Infosys Ltd., NTPC Ltd., and Tata Consultancy Services Ltd. positively contributed to the change in the Nifty 50.
ICICI Bank Ltd., Larsen & Toubro Ltd., Reliance Industries Ltd., Power Grid Corp of India Ltd., and State Bank of India weighed on the index.
The broader market indices were trading mixed, with the S&P BSE MidCap falling 0.23% while the S&P BSE SmallCap gained 0.50% at the close of trading on Tuesday.
Fourteen out of the 20 sectors compiled by BSE Ltd. advanced, while six sectors declined. S&P BSE Information Technology rose the most, while S&P BSE Realty fell the most.
The market breadth was skewed in favour of the buyers. About 2070 stocks rose, 1491 declined, and 167 remained unchanged on the BSE.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
