Indices fall for 5th day; Sensex dips 38pts, Nifty at 17K after choppy day

CLOSING BELL: Among sectors, defensives rose in trades today with the Nifty IT, FMCG, and Pharma indices advancing between 0.6 per cent and 0.9 per cent

CLOSING BELL

Stock market highlights: Equity markets closed lower for a 4-straight day on Tuesday as global growth concerns remained on investors' minds. The S&P BSE Sensex swung between gains and losses during the day, traversing 754 points intra-day. At close, the index stood at 57,107.5, down 38 points or 0.07 per cent.

The Nifty50, meanwhile, hit a high of 17,176, and a low of 16,942 during the day. It, eventually, settled at 17,007, down 9 points or 0.05 per cent. The broader markets, on the other hand, outperformed as the Nifty MidCap, and SmallCap indices gained up to 0.2 per cent.

Among sectors, defensives rose in trades today with the Nifty IT, FMCG, and Pharma indices advancing between 0.6 per cent and 0.9 per cent. On the downside, the Nifty Metal, and Financial Services indices fell 0.89 per cent each

Global cues

European markets were cautious on Tuesday. The pan-European Stoxx 600 was 0.2 per cent higher by mid-morning, having given back early gains of around 1.3 per cent. On Wall Street, futures linked to main indices were up in the range of 0.5 per cent to 1 per cent.

Earlier in Asia, Nikkei, Kospi, and Shanghai Composite rose up to 1 per cent.

4:15 PM

TECHNICAL VIEW | Rupak De, Senior Technical Analyst at LKP Securities

The benchmark Nifty remained range bound ahead of the RBI policy meet. The index briefly slipped below 16950 as it failed to sustain at the lower level leading to a close above 17000. On the lower end, bulls have managed to protect the 200 DMA on a closing basis. The momentum indicator is in a bearish crossover. The trend remains weak; however, the proximity to the crucial support may induce a pullback in the market. On the higher end, resistance is visible at 17150-17200. Above 17200, the Nifty may move towards 17500. On the other hand, a decisive fall below 16950 may trigger a panic button.

4:11 PM

MARKET COMMENT | Vinod Nair, Head of Research at Geojit Financial Services

In search of a safer dollar and elevated bond yields, foreign investors are withdrawing from Indian equities, resulting in the decline of the domestic market. In contrast to the recent trend of sector performance, banks and autos are exhibiting negative bias, while IT and pharma are showcasing resilience. Crude price are closing down, despite expectations that OPEC+ will take more action to cut production in the coming meeting, due to weakening global economy.

4:07 PM

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4:05 PM

GLOBAL CHECK | Mixed trade for European markets

4:00 PM

GLOBAL CHECK | US equity futures rise: Dow Futures up 150pts

3:55 PM

Hero Moto, Adani Ports, Titan top Nifty50 losers

3:50 PM

Cipla, Tata Consumer, Shree Cement top Nifty50 gainers

3:46 PM

Pharma stocks firm in a tepid market: Granules up 3%

3:43 PM

Broader markets outperform benchmark; India Vix slips 1%

3:40 PM

SECTORAL CHECK | Nifty Auto, Nifty Metal indices drop up to 0.8%

3:37 PM

SENSEX HEATMAP | 18 out of 30 index constituents close in green

3:35 PM

CLOSING BELL: Nifty50 closes flat below 17,050 levels

3:32 PM

CLOSING BELL: Sensex closes flat at 57,107 levels

3:26 PM

IT stocks firm in a tepid market: Nifty IT rises 1%

3:14 PM

As dollar eases, pound rises by 1% as traders turn to BoE response

Sterling bounced on Tuesday, but was running mostly on hope, profit taking and soaring British yields, leaving traders unnerved about the broader fallout from its record dive. READ MORE