India’s heartbeat indices, the Nifty and the Sensex, ended sharply lower on Tuesday, extending losses after Monday’s brief pause. The Nifty closed at 25,597.65, down 165 points, and the Sensex settled at 83,459, slipping 519 points, as sharp cuts in IT, auto, and metal stocks dragged the market.
On the Sensex, Power Grid, Tata Motors, Tata Steel, and Maruti Suzuki were among the top laggards, each falling between 2–3%.
Among sectors, IT was the biggest drag, losing 1.1%, after mixed signals from U.S. Fed officials clouded hopes of a December rate cut.
The broader markets also weakened, small-cap index down 0.8%, mid-cap off 0.4%.
But a few bright spots stood out:
Bharti Airtel jumped 1.9% to a record high after strong quarterly profits.
Titan surged 2.3% to a one-year high on better-than-expected Q2 earnings.
Mahindra & Mahindra gained 0.9% on robust SUV sales, while SBI added 0.8%, boosted by gains from its Yes Bank stake sale.
Globally, markets turned cautious. France’s CAC 40 fell 1.3%, Germany’s DAX dropped 1.5%, and FTSE 100 slipped 0.8%.
In Asia, Japan’s Nikkei tumbled 1.7%, Hang Seng fell 0.8%, and Shanghai Composite lost 0.4%, as profit-taking hit AI-driven stocks like Nvidia and Amazon after their recent rally.
Crude prices also dropped over 1%, with Brent at $64.07 a barrel and WTI at $60.21, after OPEC+ paused production hikes for next year.
On the currency front, the Indian rupee edged higher to 88.65 per dollar, likely supported by RBI intervention, even as the dollar index inched up to 99.80.
That’s all for now on ET Market Watch.
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