Indian stocks barely moved on Tuesday, with both the Sensex and Nifty slipping a little as investors stayed cautious.
Market Snapshot
The BSE Sensex fell 20 points, or 0.02%, ending at 84,675.08. The NSE Nifty 50 dropped 3 points, or 0.01%, to close at 25,938.85, just under the 26,000 level.
Key Movers
- Eternal fell about 2% after news that the CFO of its quick‑commerce unit Blinkit resigned.
- Infosys, Asian Paints, UltraTech Cement and Bajaj Finance each lost between 1% and 2%.
Broader Market
Mid‑cap stocks slipped 0.2% and small‑cap stocks fell 0.3%. Over the past five sessions the major indices have each lost roughly 1% amid steady foreign selling and thin trading volumes.
Expert View
Vinod Nair, head of research at Geojit Investments, said the market remains volatile despite some global support. A stronger rupee gave a small lift, but continued foreign institutional outflows keep sentiment cautious. He noted that auto stocks rose on solid IIP data, metal stocks benefitted from higher metal prices, and PSU banks improved on better asset quality. He expects the market to move sideways until more clarity comes from US‑India trade talks and upcoming Q3 earnings.
Global Context
Asian equity markets were largely flat as investors locked in year‑end gains. Gold and silver steadied after a sharp pullback from record highs, with silver now up about 156% year‑to‑date. MSCI’s Asia‑Pacific ex‑Japan index inched up 0.1%, on track for a 26.7% gain for the year.
Oil and Currency
Crude oil prices were unchanged, with Brent hovering around $62 a barrel as expectations of a Russia‑Ukraine peace deal faded. The Indian rupee strengthened, closing at about 89.84 per US dollar, helped by RBI’s dollar sales.
Remember, this is my perspective, not a prediction. Do your own research and consider your risk tolerance before making any investment decisions.