The Indian stock market concluded a volatile session with marginal losses on Tuesday, marking the eighth consecutive day of declines for the benchmark indices. The market gave up its early gains as investors remained cautious ahead of the Reserve Bank of India's (RBI) monetary policy decision and squared off positions on the last day of the September series Futures & Options (F&O) expiry.
The S&P BSE Sensex fell 97.32 points (0.12%) to settle at 80,267.62. The NSE Nifty 50 also ended slightly lower, dropping 23.80 points (0.10%) to close at 24,611.10. Over the past eight sessions, the Sensex has shed over 2,700 points.
Key Market Highlights
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Sensex: Closed at 80,267.62, down 97 points.
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Nifty 50: Ended the session just above the 24,600 mark.
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Market Sentiment: The session was highly volatile due to the monthly F&O expiry. Caution prevailed as investors awaited the outcome of the RBI's three-day Monetary Policy Committee (MPC) meeting, which concludes tomorrow.
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Broader Markets: The broader markets ended on a mixed note. The Nifty Midcap 100 index closed flat with a minor loss, while the Nifty Smallcap 100 index ended with a slight gain of 0.08%.
Top Gainers and Losers
Gains in metal and port stocks were offset by losses in heavyweight consumer goods, telecom, and some financial stocks.
| Top Gainers |
Top Losers |
| Adani Ports |
InterGlobe Aviation (IndiGo) |
| UltraTech Cement |
ITC |
| JSW Steel |
Bajaj Finserv |
| Tata Motors |
Bharti Airtel |
| Hindalco |
Tech Mahindra |
Sectoral Performance
It was a day of mixed sectoral performance, with PSU banks and metals showing strength while media and realty stocks dragged.
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Top Gainers: The Nifty PSU Bank index was the standout performer, surging by 1.84%. The Nifty Metal index also saw strong buying interest, closing 1.16% higher.
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Top Losers: The Nifty Media index was the biggest laggard, dropping 1.23%. The Nifty Realty and Nifty FMCG indices also ended in the red with losses of 0.82% and 0.43%, respectively.
Major News and Market Movers
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RBI Policy in Focus: The primary event influencing market sentiment is the upcoming RBI policy decision on October 1. While the central bank is widely expected to keep interest rates on hold, its commentary on inflation and future economic growth will be crucial for market direction.
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F&O Expiry Volatility: As it was the last day of the September F&O series, the market experienced heightened volatility as traders rolled over or closed their derivative positions.
Global Market Summary
Global markets were cautious as investors monitored developments in the U.S.
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Global Stocks: Asian markets were mixed, and European stocks saw a quiet start as investors assessed the possibility of a U.S. government shutdown if a funding deal is not reached by October 1.
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Commodities: Gold prices hit a new record high above $3,800 an ounce amid global uncertainties, while WTI crude oil prices slipped.
Frequently Asked Questions (FAQs)
Why did the market end lower for the eighth straight day?
The market's decline was driven by a combination of factors, including profit-booking after a recent rally, volatility due to the monthly F&O expiry, and caution among investors ahead of the RBI's monetary policy announcement.
Which sectors were the top performers today?
The Nifty PSU Bank index surged 1.84%, and the Nifty Metal index gained 1.16%, making them the top-performing sectors for the day.
What is the key domestic event investors are waiting for?
The most significant domestic event is the Reserve Bank of India's (RBI) interest rate decision, which will be announced on Wednesday, October 1. The RBI's outlook will be a key trigger for the market's future direction.
How have the broader midcap and smallcap stocks performed?
The broader markets showed a mixed and resilient performance compared to the recent sharp falls. The Nifty Midcap 100 index closed nearly flat, while the Nifty Smallcap 100 index ended with a small gain.