Benchmark indices Sensex and Nifty extended their losing streak for a third consecutive day on Tuesday, with profit-taking in oil & gas and select FMCG stocks weighing on the market.
The BSE Sensex dipped 33.49 points, or 0.04%, to close at 84,266.29 after touching an intraday high of 84,648.40 and a low of 84,098.94. The NSE Nifty ended marginally lower, slipping 13.95 points, or 0.05%, to 25,796.90.
Muted global market trends and significant foreign fund outflows dampened investor sentiment, according to analysts.
Among the 30 Sensex firms, IndusInd Bank, Asian Paints, Hindustan Unilever, Tata Motors, Tata Steel, Titan, Reliance Industries, and NTPC were the major losers. However, Tech Mahindra, Mahindra & Mahindra, Kotak Mahindra Bank, Infosys, HCL Technologies, and State Bank of India posted gains.
In Asian markets, Tokyo closed higher, while South Korean, Hong Kong, and mainland Chinese markets were shut for a public holiday. Mainland Chinese markets will remain closed for the rest of the week due to the holiday.
European markets traded mixed, while US markets closed in positive territory on Monday.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹9,791.93 crore on Monday, while Domestic Institutional Investors (DIIs) purchased shares worth ₹6,645.80 crore, according to exchange data.
India’s manufacturing sector growth slowed to an eight-month low in September, as factory production, sales, and new export orders rose at a softer pace, according to a monthly survey released on Tuesday.
The HSBC India Manufacturing Purchasing Managers' Index (PMI) dropped from 57.5 in August to 56.5 in September, marking the weakest expansion since January. A PMI reading above 50 indicates growth, while a score below 50 signals contraction.
Meanwhile, global oil benchmark Brent crude fell by 1.66% to $70.51 per barrel.
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