The S&P BSE Sensex fell 0.18% to 84,628.16, down 150.68 points, while the NSE Nifty 50 slipped 0.11% to 25,936.20.
Here’s how analysts read the market pulse:
The domestic market remained volatile in negative terrain and ended flat, weighed down by profit-booking on monthly expiry and weak global cues. Despite this, the Metals sector gained on renewed optimism following China’s announcement to curb steel overcapacity and potential progress over U.S.-China trade relations, while PSU banks outperformed amid reports of a potential increase in FII holding limits, said Vinod Nair, Head of Research at Geojit Investments.“Notably, buying interest emerged at lower levels, reflecting underlying investor confidence. Market sentiment is expected to be supported by easing global trade tensions and expectations of an upgrade in domestic corporate earnings, which continue to reinforce resilience,” said Nair.
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European markets
European stocks slipped after three consecutive record highs as investors evaluated a slew of corporate earnings and awaited the Trump-Xi meeting on potential trade progress. The STOXX 600 fell 0.3%, with Germany’s DAX and France’s CAC 40 down 0.1% each. Spain’s IBEX 35 hit a fresh record high, driven by strong gains in domestic banking shares.
Tech View
The market remained highly volatile on the NSE monthly F&O expiry day, said Rupak De, Senior Technical Analyst at LKP Securities, adding that the overall chart setup on the daily timeframe remains intact, with the Nifty trading well above the 21 EMA, keeping the bullish bias intact.
“The RSI is in a bullish crossover and remains in the high momentum zone. In the short term, the index may witness a decent rally as momentum picks up above 26,000. On the higher end, resistance is seen at 26,300, while support is placed at 25,850,” said De.
Most active stocks in terms of turnover
ICICI Bank (Rs 3,606 crore), HDFC Bank (Rs 3,394 crore), RIL (Rs 2,618 crore), Bharti Airtel (Rs 2,067 crore), SBI (Rs 2,046 crore), Netweb Technologies (Rs 1,902 crore), and Chennai Petro (Rs 1,421 crore) were among the most active stocks on the BSE in value terms. Higher activity in a counter in value terms can help identify the counters with the highest trading turnovers in the day.
Most active stocks in volume terms
Tata Steel (traded shares: 5.95 crore), HDFC Bank (traded shares: 3.39 crore), Eternal (traded shares: 2.87 crore), ICICI Bank (traded shares: 2.64 crore), SBI (traded shares: 2.20 crore), RIL (traded shares: 1.76 crore), and ITC (traded shares: 1.71 crore) were among the most actively traded stocks in volume terms on the NSE.
Stocks showing buying interest
Shares of IndusInd Bank, Tata Steel, L&T, SBI, Kotak Bank, Bharti Airtel, and Tata Motors Passenger Vehicles were among the stocks that witnessed strong buying interest from market participants.
52-week high
Over 160 stocks hit their 52-week highs today, while 84 stocks slipped to their 52-week lows. Among the ones that hit their 52-week highs were Tata Steel, SBI, and Bharti Airtel.
Stocks seeing selling pressure
Stocks that witnessed significant selling pressure were Bajaj Finserv, Bajaj Finance, ICICI Bank, Tech Mahindra, Power Grid, Nestlé India, and Mahindra & Mahindra.
Sentiment meter bearish
Market sentiment was bearish. Out of the 4,332 stocks that traded on the BSE on Tuesday, 2,246 stocks witnessed declines, 1,910 saw advances, while 176 stocks remained unchanged.
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(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)