Stock market in the present day: BSE Sensex sinks over 400 factors; Nifty50 below 22,350

According to Ajit Mishra at Religare Broking, blended international cues and underperformance of banking index stay key hurdles. (AI picture)

Stock market in the present day: BSE Sensex and Nifty50, the Indian fairness benchmark indices, opened in crimson on Tuesday. While BSE Sensex sunk over 400 factors, Nifty50 was below 22,350. At 9:16 AM, BSE Sensex was buying and selling at 73,694.68, down 420 factors or 0.57%. Nifty50 was at 22,322.20, down 138 factors or 0.61%.
Indian markets closed decrease on Tuesday, with declines led by banking, vehicle and FMCG sectors. Jatin Gedia, Technical Research Analyst at Mirae Asset Sharekhan, noticed that Nifty skilled bidirectional actions on Monday earlier than closing in destructive territory.
“It can drift towards 22,405 – 22,320 which are the 38.2% and 50% Fibonacci retracement levels of the recent rise. Daily momentum indicators have a positive crossover which is a buy signal and hence this dip towards the support zone should be considered as a buying interest. On the upside, we expect 22,800 – 23,000. Crucial support is at 22,250- 22,230,” Gedia stated.
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Ajit Mishra, Senior Vice President – Research at Religare Broking, famous that the 20-day EMA resistance restricted upward motion and initiated revenue reserving. “For the market to surpass the short-term resistance of the 20-day EMA at 22,700, a fresh catalyst is needed. However, mixed global cues and the underperformance of the banking index remain key hurdles. Amid all, we suggest continuing with a positive yet cautious approach in the prevailing scenario, with focus on stock selection and risk management,” Mishra stated.
US equities declined sharply on Monday with issues over tariff disputes and potential authorities shutdown resulting in heightened recession worries within the US economic system.
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Asian equities declined for the third straight session on Tuesday, following US market weak spot that noticed Nasdaq 100 recording its poorest efficiency since 2022, with issues over tariffs and authorities personnel adjustments affecting the biggest international economic system.
Gold costs remained secure on Tuesday as merchants awaited essential inflation information to judge Federal Reserve’s fee selections, while monitoring commerce tensions and financial progress issues following US presidential tariffs.
The Japanese yen strengthened to close five-month peaks on Tuesday, changing into the popular safe-haven foreign money as issues over US progress slowdown affected US equities and greenback efficiency.
FIIs had been web sellers with Rs 2,035.10 crore outflow on Monday, while DIIs had been web patrons with Rs 2,320.36 crore influx.