BSE Sensex and Nifty struggled on Tuesday after a four-week global rally
ran out of steam. The Sensex fell over 150 points at its day's low
while Nifty slipped to 8,217. However, markets pared some losses in noon
trade.
Here Are Top 10 Developments:
1) Selling pressure was seen in oil & gas and metal stocks after amid weak commodity prices. Global crude prices fell on Tuesday, extending losses into a third week.
2) ONGC fell over 3 per cent while Vedanta and Tata Steel declined nearly 2 per cent to be among major Nifty losers.
3) HDFC shares extended losses on Tuesday as its September quarter earnings failed to impress investors. The mortgage lender, which closed 2 per cent lower yesterday, traded 2.7 per cent down.
4) Lupin, which will report its earnings today, fell 2.5 per cent. Axis Bank and Maruti Suzuki however traded higher ahead of the announcement of their quarterly results later in the day.
5) Aviation stocks were in limelight after IndiGo's Rs 3,000 crore IPO opened today. SpiceJet surged 4 per cent while Jet Airways gained over 1 per cent. Analysts say that IndiGo's IPO could help re-rate the aviation sector.
6) Eros International Media rebounded today with shares surging nearly 5 per cent. The company's management issued clarification after an analyst raised questions about its business operations. The stock had plunged nearly 20 per cent yesterday.
7) Analysts say that if Nifty falls below the support levels of 8200-8250, the selling pressure could accelerate. And markets are likely to be volatile ahead of the derivatives contract expiry on Thursday.
8) Traders are also likely to be cautious ahead of the Federal Reserve's policy panel meet on October 27-28. Investors are pricing in no chance of a rate hike this week, but could react to how the Fed's statement interprets recent soft US economic data and events in global financial markets.
9) The rupee was flat today at 64.96 against the dollar.
10) Asian shares broadly swung lower on Tuesday but China markets recovered after falling nearly 2 per cent. European markets were broadly lower in early trade.
Here Are Top 10 Developments:
1) Selling pressure was seen in oil & gas and metal stocks after amid weak commodity prices. Global crude prices fell on Tuesday, extending losses into a third week.
2) ONGC fell over 3 per cent while Vedanta and Tata Steel declined nearly 2 per cent to be among major Nifty losers.
3) HDFC shares extended losses on Tuesday as its September quarter earnings failed to impress investors. The mortgage lender, which closed 2 per cent lower yesterday, traded 2.7 per cent down.
4) Lupin, which will report its earnings today, fell 2.5 per cent. Axis Bank and Maruti Suzuki however traded higher ahead of the announcement of their quarterly results later in the day.
5) Aviation stocks were in limelight after IndiGo's Rs 3,000 crore IPO opened today. SpiceJet surged 4 per cent while Jet Airways gained over 1 per cent. Analysts say that IndiGo's IPO could help re-rate the aviation sector.
6) Eros International Media rebounded today with shares surging nearly 5 per cent. The company's management issued clarification after an analyst raised questions about its business operations. The stock had plunged nearly 20 per cent yesterday.
7) Analysts say that if Nifty falls below the support levels of 8200-8250, the selling pressure could accelerate. And markets are likely to be volatile ahead of the derivatives contract expiry on Thursday.
8) Traders are also likely to be cautious ahead of the Federal Reserve's policy panel meet on October 27-28. Investors are pricing in no chance of a rate hike this week, but could react to how the Fed's statement interprets recent soft US economic data and events in global financial markets.
9) The rupee was flat today at 64.96 against the dollar.
10) Asian shares broadly swung lower on Tuesday but China markets recovered after falling nearly 2 per cent. European markets were broadly lower in early trade.
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