Mumbai: 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, a decline of 0.37 per cent. The Nifty also slipped, ending 74.7 points or 0.29 per cent down at 25,884.8.
“On the Nifty options front for the upcoming weekly expiry on December 2, significant call buildup was recorded at the 26,000 and 26,200 strike levels, while on the put side, notable additions were seen at the 26,000 and 25,500,” experts said.
Among key stocks on the Sensex, Trent, Tata Motors PV, HCLTech, Infosys and Power Grid were the top losers.
On the other hand, Bharat Electronics Ltd (BEL), State Bank of India (SBI), Tata Steel and Eternal were among the major gainers.
Sector performance was mixed. The Nifty Realty index gained 1.62 per cent, making it the best-performing sector of the day, while Nifty PSU Bank rose 1.44 per cent.
However, Nifty IT fell 0.57 per cent and Nifty Media dropped 0.80 per cent.
Broader markets were more resilient than the frontline indices. The Nifty Midcap 100 index gained 0.36 per cent, while the Nifty Smallcap 100 added 0.19 per cent — showing continued buying interest in mid- and small-cap stocks.
Market experts said the expiry-related volatility and profit booking weighed on benchmarks, while select sectors continued to see fresh inflows ahead of December trading sessions.
“Caution prevailed as investors awaited clarity on a possible rate cut in the upcoming FOMC meeting and progress on the Indo-US trade deal, despite some improving signals,” analysts said.
They added that selling pressure is visible near the 26,000 level, though downside appears limited given strong domestic fundamentals, including a solid earnings outlook for H2.
“PSU banks and real estate stocks outperformed, supported by a strong revival in home loan demand and rising market share for PSU banks,” analysts mentioned.
(IANS)
