<\/p>
Domestic benchmark indices Sensex and Nifty opened Tuesday\u2019s session in the red, tracking subdued global cues and selling pressure in heavyweight stocks such as Eternal, Trent and Reliance Industries, weighing on broader market momentum.<\/p>
At 9:15 am, the BSE Sensex declined 215.14 points, or 0.26%, to 83,062.01. The NSE Nifty slipped 78.95 points, or 0.31%, to 25,603.80.<\/p>
Domestic institutional investors continue to provide an underlying cushion, helping to offset irregular FII outflows, said Ponmudi R, CEO of Enrich Money. \u201cHowever, near-term sentiment remains cautious amid persistent weakness in the IT sector on AI-disruption concerns, along with selective profit booking and mixed global cues,\u201d he added.<\/p>
Among Sensex constituents, Kwality Walls (India) declined 3.42% to Rs 28.50. Eternal slipped 1.78%, while Trent, UltraTech Cement, and Reliance Industries dropped 0.90%, 0.86% and 0.77%, respectively.\u00a0<\/p>
On the technical front, Ponmudi highlighted that the 50-pack index has formed a bullish engulfing pattern on the daily chart, rebounding sharply from the 25,450 mark and reclaiming key moving averages, \u201cindicating the possibility of further upside continuation,\u201d he said.<\/p>
Asian markets traded mixed. At last check, Japan\u2019s Nikkei 225 was down 0.80% to 56,354.55, while South Korea\u2019s Kospi slipped 0.28% to 5,507.01. Hong Kong\u2019s Hang Seng Index gained 0.52% to 26,705.94.<\/p>
Wall Street ended on a flat-to-mixed note overnight, with two of three major indices closed in the green. The S&P 500 edged up 0.05% to close at 6,836.17, while the Dow Jones Industrial Average rose 0.1% to 49,500.93. The Nasdaq Composite declined 0.22% to settle at 22,546.67.<\/p>
\u201cThe market will respond to geopolitical developments like the US-Iran standoff. Corrections can be used as buying opportunities. The impressive credit growth happening now has positive implications for leading banking stocks, which are fairly valued,\u201d said VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited.<\/p>
In the previous session on Monday, the Sensex advanced 650.39 points, or 0.79 per cent, to end at 83,277.15, while the Nifty gained 211.65 points, or 0.83 per cent, to settle at 25,682.75. \u00a0<\/p>
\u201cFor day traders, 25,600\/83000 and 25,500\/82700 would act as key support zones. As long as the market is trading above these levels, the pullback formation is likely to continue. On the higher side, it could bounce back to 25,800\u201325,875\/83500-83700. On the flip side, below 25,500\/82700, the sentiment could change. If the market falls below this level, traders may prefer to exit their long positions,\u201d said Shrikant Chouhan, Head Equity Research, Kotak Securities.<\/p> <\/div>
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.<\/i><\/p>
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Domestic benchmark indices Sensex and Nifty opened Tuesday\u2019s session in the red, tracking subdued global cues and selling pressure in heavyweight stocks such as Eternal, Trent and Reliance Industries, weighing on broader market momentum. At 9:15 am, the BSE Sensex declined 215.14 points, or 0.26%, to 83,062.01. The NSE Nifty slipped 78.95 points, or 0.31%, […]<\/p>\n","protected":false},"author":1,"featured_media":3653,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[115,467,12453,12454,8982,12455,12451,1724,4373,12452,2110,6146,116,8293,1721,6145,6171,1012,11251,2121,12450,2448,266,12456],"class_list":["post-3652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-content-marketing","tag-bse","tag-drop","tag-fii","tag-foreign-inflows","tag-it-stocks","tag-kwality","tag-kwality-walls-shares","tag-market","tag-market-news","tag-nasdaq","tag-nifty","tag-nifty-today","tag-nse","tag-pts","tag-sensex","tag-sensex-today","tag-share-market-today","tag-shares","tag-slips","tag-stock","tag-stock-maket-today","tag-stock-market-news","tag-today","tag-wall039s"],"acf":[],"_links":{"self":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/posts\/3652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3652"}],"version-history":[{"count":0,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/posts\/3652\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/media\/3653"}],"wp:attachment":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3652"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}