3 hrs ago
Sensex, Nifty Fall for Third Day Amid Crude Concerns
India’s two main stock-market indexes fell for the third day in a row.
The Sensex ended at 72,480.29, and the Nifty ended at 22,620.45.
Both indexes had climbed earlier but lost those gains near the end of trading.
Oil prices rose, which made investors worry about costs and inflation.
High bond yields around the world also made investors less willing to take risks.
Foreign investors sold Indian shares worth Rs 9,980.22 crore on Tuesday.
Metal, pharmaceutical and healthcare shares were among the weaker areas.
Some realty and private-bank shares rose.
Analysts said investors remain cautious while watching oil prices, bond yields and global economic policies.
The Sensex fell 48.78 points, or 0.07%, to 72,480.29, while the Nifty dropped 95.75 points, or 0.42%, to 22,620.45.
Both indices surrendered intraday gains and declined for a third consecutive session amid late selling.
Brent crude rose 0.54% to $103.10 per barrel, while elevated global bond yields pressured sentiment.
Foreign Institutional Investors sold equities worth Rs 9,980.22 crore on Tuesday, according to exchange data.
Metal, pharma and healthcare shares weakened, while realty and some private-bank indices gained; the Sensex and Nifty also fell 5.81% and 6% during the month.
- Who
- Indian stock-market investors, foreign institutional investors, listed companies and market analysts.
- What
- The Sensex and Nifty fell for a third consecutive trading session.
- Where
- Indian stock markets, with sentiment also affected by global markets.
- When
- Wednesday, September 30; the reported foreign-investor sales occurred on Tuesday.
- Why
- Firm crude prices, elevated global bond yields, foreign fund selling, profit-taking and concerns about inflation and monetary policy weighed on sentiment.
Reasons for Continued Caution
Reasons the Decline Was Measured
Market outlook
Reasons for Continued Caution
Vinod Nair said profit-taking, rebounding oil prices and elevated global bond yields were limiting sustained risk-taking.
Reasons the Decline Was Measured
Ponmudi R said crude prices were relatively stable during the session, so the market tone was measured rather than decisively negative.
Oil-market uncertainty
Reasons for Continued Caution
Analysts said crude near $103 a barrel and uncertainty around energy supplies remained an overhang for investors.
Reasons the Decline Was Measured
The stability in crude prices provided little fresh negative direction, even though uncertainty over regional conflict and energy supplies remained unresolved.
Key facts
- Sensex close
- 72,480.29, down 48.78 points or 0.07%
- Nifty close
- 22,620.45, down 95.75 points or 0.42%
- Sensex intraday high
- 73,062.23, after rising 533.16 points or 0.73%
- Brent crude
- Up 0.54% to $103.10 per barrel
- Foreign investor sales
- Rs 9,980.22 crore sold by FIIs on Tuesday
- Monthly performance
- The Sensex fell 4,476.98 points, or 5.81%, while the Nifty declined 1,459.95 points, or 6%, during the month
- Sector performance
- Hospitals fell 4.97%, Healthcare 2.35% and Metal 1.24%; Realty rose 1.42%
Quotes
Ajit Mishra
Senior vice president of research at Religare Broking
“The relief rally loses its steam with profit booking at the higher levels, followed by a rebound in oil prices. The elevated global bond yields continue to remain a key overhang, limiting the scope for sustained risk-taking. The overall market tone remains cautious; investors continue to monitor the trajectory of crude oil prices, bond yields, inflation expectations, and the potential implications for global monetary policy.”
theprint.in
telegraphindia.com
rediff.com
“Global macro concerns continued to keep sentiment fragile. Brent crude remained elevated around USD 103 a barrel despite moderating somewhat from recent highs, while the US 10-year Treasury yield remained near recent highs, having touched 5.293% in the previous session. Persistent foreign selling remained another major overhang, with FIIs selling nearly Rs 9,980 crore on Tuesday.”
theprint.in
Sources
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