Mumbai, Oct 28: The BSE Sensex fell 150.68 points, or 0.18%, to close at 84,628.16 on Tuesday, as profit-taking in IT, consumer durables, and realty stocks, along with weak Asian market trends, weighed on investor sentiment.
The index opened strong but lost gains in the late morning, hitting a low of 84,219.39 before recovering slightly in the final half-hour.
The NSE Nifty also dipped 29.85 points, or 0.11%, to 25,936.20.
Major laggards on the Sensex included Trent, ICICI Bank, Tech Mahindra, Bajaj Finserv, Mahindra & Mahindra, Power Grid, TCS, and Bajaj Finance, while Tata Steel, Larsen & Toubro, SBI, and Kotak Mahindra Bank were among the gainers. Sectorally, metals rose 1.30% and commodities 0.55%, supported by optimism over China’s steel capacity curbs and potential US-China trade progress.
PSU banks also outperformed amid reports of possible increases in FII holding limits. Conversely, realty dropped 1%, utilities 0.82%, IT 0.60%, and consumer durables 0.64%.
The BSE midcap and smallcap indices edged higher by 0.12% and 0.06%, respectively.
Experts noted cautious market sentiment ahead of major global events, including the US Federal Reserve policy decision and key US tech earnings.
Vinod Nair of Geojit Investments said volatility persisted due to monthly expiry-related profit booking and weak global cues.
Ajit Mishra of Religare Broking highlighted muted FII activity in the cash segment, though steady domestic inflows and a largely positive earnings season helped maintain constructive tone.
Asian markets closed lower, with South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite, and Hong Kong’s Hang Seng all in the red.
European markets showed mixed trends, while US markets ended Monday positively. Brent crude oil fell 1.78% to USD 64.42 per barrel.
On Monday, the Sensex had surged 566.96 points and the Nifty gained 170.90 points, reflecting recent volatility and profit-taking in domestic equities.(PTI)
