Share Market Today: Sensex Settles 153 Points Lower, Nifty Slips Near 25,050. Metal Falls Over 1%

On the 30-share Sensex platform, ICICI Bank, Bharti Airtel, Asian Paint, Adani Ports, and UltraTech Cement settled the session in green

Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Tuesday reversed the trend and ended trading in red. The indices began the trading session higher, however, slipped during the day. The BSE Sensex settled the trading session at 81,820.12, slipping more than 150 points, while the NSE Nifty50 closed the day at 25,057.35, dropping almost 71 points.

Stock update

On the 30-share Sensex platform, ICICI Bank, Bharti Airtel, Asian Paint, Adani Ports, and UltraTech Cement settled the session in green. On the other hand, Bajaj Finance, Reliance, Tata Steel, JSW Steel, and Tata Motors stood amongst the laggards as the markets closed for the day.

In the broader markets, the indices mostly settled trading in green. The Nifty Smallcap 250 and Smallcap 100 indices dominated and closed 1.11 per cent higher. The laggards on the list included Nifty50, Nifty 100, and Nifty 200 indices.

Sectoral update

Sectoral indices closed the session on a mixed note. The Nifty Realty index settled 2.05 per cent higher dominating in green. Meanwhile, the laggards included Metal and Auto indices which declined 1.44 per cent and 0.83 per cent respectively. 

In the previous session on Monday, the equity benchmarks ended trading higher after a strong rally. The Sensex settled at 81,973.05, climbing almost 600 points, while the Nifty closed the session at 25,127.95, jumping over 160 points.

Macro Elements

The global oil benchmark Brent crude plunged 4.71 per cent to hit $73.81 per barrel. Asian markets saw Seoul and Tokyo close higher, while Shanghai and Hong Kong ended trading in red. Official exchange data revealed that Foreign Institutional Investors (FIIs) dumped equities worth Rs 3,731.59 crore on Monday, while the Domestic Institutional Investors (DIIs) bought equities worth Rs 2,278.09 crore.

The Indian currency experienced a range-bound traded and settled 1 paisa higher at 84.04 (provisional) against the American dollar on Tuesday due to weak crude oil prices.

V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, explained, "The sharp cut in Brent crude ... is a macro positive for India, but CPI inflation for September coming worse-than-expected at 5.49 per cent is a concern and the MPC will be forced to take this seriously and postpone the rate cut to 2025."