Indian stock markets ended in the red on Tuesday as traders reacted to the monthly expiry of Nifty futures and options contracts for the November series.
The Sensex closed 313.7 points lower at 84,587.01, down 0.37 per cent, while the Nifty slipped 74.7 points, or 0.29 per cent, to finish at 25,884.8.
Among key Sensex constituents, Trent, Tata Motors PV, HCLTech, Infosys and Power Grid were the top losers. Meanwhile, Bharat Electronics Ltd (BEL), State Bank of India (SBI), Tata Steel and Eternal emerged as major gainers.
Sectoral performance was mixed. The Nifty Realty index advanced 1.62 per cent, making it the best-performing sector of the day, followed by Nifty PSU Bank, which rose 1.44 per cent. In contrast, Nifty IT fell 0.57 per cent and Nifty Media declined 0.80 per cent.
Broader markets outperformed the frontline indices. The Nifty Midcap 100 gained 0.36 per cent, while the Nifty Smallcap 100 added 0.19 per cent, indicating continued buying interest in mid- and small-cap stocks.
Market experts said expiry-related volatility and profit booking weighed on the benchmarks, even as select sectors continued to attract fresh inflows ahead of the December trading sessions.
“Caution persisted as investors awaited clarity on a possible rate cut in the upcoming FOMC meeting and developments in the Indo-US trade deal, despite some improving signals,” analysts said.
They added that while selling pressure is evident near the 26,000 level, the downside remains limited due to strong domestic fundamentals, including a robust earnings outlook for the second half of the fiscal year.
“PSU banks and real estate stocks outperformed, supported by a strong revival in home loan demand and growing market share for PSU banks,” they noted.
-IANS