Sensex drops 100 points, Nifty slips below 24,350 – India TV

admin

Nifty reaches 24,100, Sensex nears 79,500 – India TV


Image Source : FILE Bombay Stock Exchange Limited building.

Indian stock markets started on a cautious note on Tuesday, with the Sensex falling by 100 points and the Nifty slipping below 24,350. Notably, HDFC Bank shares saw a 2% decline. The broader markets, however, showed resilience with gains in the MidCap and SmallCap indices. Additionally, several stocks are set for inclusion in the MSCI India Index following the August review.

Broader markets show resilience

Despite the sluggish performance of the benchmark indices, the broader markets showed positive momentum. The BSE MidCap index rose by 0.35%, and the BSE SmallCap index gained 0.5%, reflecting investor interest in mid- and small-cap stocks.

MSCI Index rebalancing: August review

In the latest MSCI India Index review, several companies, including RVNL, Vodafone Idea, Dixon Technologies, Oil India, Prestige Estates, Oracle Financial, and Zydus Lifesciences, are set to be added. Bandhan Bank is the only stock to be excluded from the index. This rebalancing may influence stock movements in the short term as fund managers adjust their portfolios accordingly.

Global Market overview 

Asia-Pacific markets displayed mixed trends during Tuesday’s trading session. Japan’s Nikkei 225 surged by 2.53%, breaking the 36,000 mark for the first time since August 2. Meanwhile, Australia’s ASX200 and Hong Kong’s Hang Seng indices recorded modest gains of 0.2% each, following a volatile session in the U.S. markets overnight. 

As Indian markets react to both domestic and global cues, investors remain watchful of key developments, including the MSCI rebalancing and the performance of major financial stocks like HDFC Bank. The mixed global sentiment adds layer of complexity to the market outlook.

Also read | Net direct tax collection grows 22 per cent to Rs 6.93 lakh crore for current fiscal: Govt data



Source link