The Indian stock market's recent winning streak came to an end on Tuesday, as benchmark indices gave up early gains to close with modest losses. The session was marked by high volatility, with profit-booking at higher levels and weakness in realty and IT stocks dragging the indices down. Metal and PSU Bank stocks, however, bucked the negative trend.
The S&P BSE Sensex fell 150.68 points (0.18%) to close at 84,628.16, after retreating nearly 800 points from the day's high. The NSE Nifty 50 also dropped 29.95 points (0.11%) to settle at 25,936.20.
Key Market Highlights
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Sensex: Closed at 84,628.16, down 151 points.
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Nifty 50: Ended the session below the 25,950 mark.
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Market Sentiment: After a positive start, tracking record highs on Wall Street, the market turned cautious. The decline was attributed to profit-booking after a sustained rally and weak global cues that emerged during the day.
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Broader Markets: The broader markets ended on a flat note, with the Nifty Midcap 100 index declining by 0.02% and the Nifty Smallcap 100 index managing a slight gain of 0.02%.
Top Gainers and Losers
Gains in metal and select banking stocks were overshadowed by losses in the Bajaj twins and other financial and tech names.
| Top Gainers |
Top Losers |
| Tata Steel (+3.1%) |
Bajaj Finserv (-2.1%) |
| Larsen & Toubro (+2.4%) |
Trent (-1.6%) |
| State Bank of India (SBI) (+1.9%) |
Tech Mahindra (-1.5%) |
| Tata Motors PV (+1.7%) |
Bajaj Finance (-1.4%) |
| Kotak Mahindra Bank (+1.6%) |
Adani Ports (-0.9%) |
Sectoral Performance
It was a day of mixed sectoral performance, with metals shining while realty faced significant selling pressure.
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Top Gainers: The Nifty Metal and Nifty PSU Bank indices were the standout performers, each gaining over 1%.
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Top Losers: The Nifty Realty index was the biggest laggard, falling by 1.15%. IT, Financial Services, FMCG, and Pharma indices also ended in the red.
Major News and Corporate Updates
The second-quarter earnings season was a major driver of stock-specific action.
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Q2 Earnings in Focus: Today was a busy day for Q2 results, with major companies like TVS Motor, Adani Green Energy, Jindal Steel, and Shree Cements scheduled to announce their earnings.
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HCLTech Q2 Results: The IT major had recently reported a flat net profit of ₹4,235 crore, with revenue growing 10.7% year-on-year. The company maintained its FY26 guidance.
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Anand Rathi Wealth Q2: The company posted strong results with a 31% year-on-year jump in net profit to ₹99.9 crore and declared an interim dividend of ₹6 per share.
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Just Dial Q2: The company reported a 22.5% decline in its net profit to ₹119.4 crore, primarily due to lower other income.
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KEC International Secures Orders: The engineering firm secured new orders worth ₹1,174 crore in its transmission & distribution (T&D) business, taking its year-to-date order intake to approximately ₹14,000 crore.
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Oil India Pact: Oil India signed a 15-year gas supply agreement with NEEPCO and completed a major pipeline capacity upgrade.
Global Market Summary
Global markets were mixed as investors reacted to a fresh batch of corporate earnings and awaited signals from the U.S. Federal Reserve.
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Global Stocks: Wall Street opened at record highs, driven by upbeat forecasts from companies like UnitedHealth and UPS. However, the sentiment turned cautious as the day progressed, with investors shunning risk. Gold prices surged as a result.
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Fed Meeting: Investors are keenly awaiting the outcome of the U.S. Federal Reserve's two-day policy meeting, which began today. While another rate cut is expected, the Fed's commentary on the future path of interest rates will be crucial.
Frequently Asked Questions (FAQs)
Why did the market fall today?
The market fell due to profit-booking after a four-day rally. While the market opened higher on positive global cues, it could not sustain the gains and succumbed to selling pressure, particularly in the realty and IT sectors.
Which sectors were the top performers?
The Nifty Metal and Nifty PSU Bank indices were the best-performing sectors, each gaining over 1% even as the broader market declined.
What are the key events to watch for?
The ongoing Q2 earnings season, particularly results from major IT and banking companies, will be a key driver. Globally, the outcome of the U.S. Federal Reserve's policy meeting and its commentary on future rate cuts will be closely watched by investors.