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.
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