Market movement

The 30-share BSE Sensex gained 299.17 points, or 0.40 per cent, to settle at 74,828.25. The 50-share NSE Nifty jumped 117.80 points, or 0.50 per cent, to end at 23,446.80.

"Indian equities ended higher despite intraday volatility, as markets shrugged off an intraday surge in crude and focused on signs of strengthening domestic growth momentum," Vinod Nair, Head of Research, Geojit Investments said. 

"However, a stronger-than-expected September flash PMI reinforced confidence in the resilience of economic activity, indicating that growth remains intact without a corresponding build-up in inflationary pressures. This constructive macro backdrop supported buying interest across the market, helping domestic equities track gains in Asian peers," he added.

From the Sensex constituents, Tata Steel, Bajaj Finance, ITC, UltraTech Cement, Power Grid and Larsen & Toubro were the major winners.

HCL Tech, Infosys, Tata Consultancy Services (TCS), Titan and Mahindra & Mahindra were among the laggards.

"Among sectors, the metal index was the top gainer, rallying 2.40 per cent, whereas media indices shed nearly 1 percent," Shrikant Chouhan, Head Equity Research, Kotak Securities said.

On Tuesday, the Sensex shed 329.91 points, or 0.44 per cent, to settle at 74,529.08, while the Nifty snapped its four-day winning streak to drop 85.30 points, or 0.36 per cent, to end at 23,329.

Global cues for Indian equities

Brent crude, the global oil benchmark, edged up 0.35 per cent to USD 99.60 per barrel, according to news agency PTI. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,809.99 crore on Tuesday.

"Indian equities are likely to continue their gradual upmove in the near term as positive developments around a potential resolution of the war front improve sentiment. Developments in West Asia, movements in Brent crude, foreign flows and global cues will remain key near-term drivers," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said.

In Asian markets, South Korea's Kospi ended higher, while Shanghai's SSE Composite index and Hong Kong's Hang Seng index settled lower. The stock market in Japan was shut for the Autumnal Equinox holiday.

(With inputs from PTI)

Market movement

The 30-share BSE Sensex jumped 139.90 points or 0.19 per cent at 74,668.98 in the initial trade. The 50-share NSE Nifty was rose 39.30 points or 0.17 per cent at 23,368.30 in the early trade.

"Domestic liquidity is supporting the broader market. Market activity is now focused on the broader market. Good growth and better growth prospects are attracting investment into many mid-and small-caps. But valuations in these segments are getting stretched," V K Vijayakumar, Chief Investment Strategist, Geojit Investments said . 

Among the Sensex constituents, Bajaj Finance, Bajaj Finserv, Tata Steel, UltraTech Cement and Larsen & Toubro were the major gainers, while Tata Consultancy Services (TCS), Infosys, Mahindra & Mahindra, HDFC Bank, ICICI Bank were the laggards in the early deals.

On Tuesday, the Sensex shed 329.91 points, or 0.44 per cent, to settle at 74,529.08, while the Nifty snapped its four-day winning streak to drop 85.30 points, or 0.36 per cent, to end at 23,329.

Global cues for the market

"Brent has eased towards USD 98 a barrel over five sessions on hopes of US–Iran diplomacy, offering some relief to India's import bill, though prices remain elevated," Hemang Gor, Senior Research Analyst Technical and Derivatives Research, Axis Direct said.

According to news agency PTI, Brent crude, the global oil benchmark, was trading lower by 0.99 per cent at USD 98.27 per barrel.

"High crude prices and elevated bond yields will constrain a rally in the market," Vijayakumar said.

In Asian markets, South Korea's Kospi was trading higher while, Shanghai's SSE Composite index and Hong Kong's Hang Seng index were quoting lower. The stock market in Japan remains shut for the Autumnal Equinox holiday and reopens on Thursday. 

"Foreign institutional investors (FIIs) continued their selling activity for the second consecutive session, offloading equities worth Rs 3,800 crore on Tuesday. Meanwhile, domestic institutional investors (DIIs) maintained their supportive stance, recording purchases of Rs 4,120 crore during the session," Hitesh Tailor, Technical Research Analyst at Choice Broking said.

(With inputs from PTI)

Benchmark indices during the week

During the week, the 30-share BSE Sensex shed 486.80 points or 0.65 per cent, while the 50-share NSE Nifty slipped 51.70 points or 0.22 per cent.  

"In the last truncated week, the benchmark indices witnessed continued profit booking at higher levels," Amol Athawale, VP Technical Research, Kotak Securities said.

On Monday, the stock exchanges were closed for trading purposes on account of Ganesh Chaturthi.

"On a weekly basis, the benchmarks continued their losing streak for the sixth consecutive week. With Brent crude oil prices remaining above USD 100 and geopolitical concerns still elevated, these factors continue to remain key overhangs heading into the weekend," Pabitro Mukherjee, Deputy Vice President Research, Bajaj Broking said.

On Friday, the Sensex declined for the second consecutive day and dipped 19.63 points, or 0.03 per cent, to settle at 74,294.96. The 50-share NSE Nifty extended its gains for the third straight, gaining 75.80 points, or 0.33 per cent, to end at 23,346.40.

On Thursday and Friday, the benchmark indices ended on a mixed note, with the Sensex declining and the Nifty advancing.

The National Stock Exchange's (NSE) Rs 22,569-crore initial public offering (IPO) that hit the market on September 17 also diverted the investors to the primary market, thus weighing on the indices, according to analysts.

Tata Group stocks also came under pressure on Friday after Tata Trusts had opposed N Chandrasekaran's reappointment as Tata Sons Chairman and also the holding company's listing plans. On Thursday the Group's stocks had rallied following the announcement of the possible listing of Tata Sons and Chandrasekaran's reappointment.

Sector-wise performance

"Large-cap benchmarks lagged the broader market, weighed down by their heavier weighting in globally linked and index-heavy names, while mid- and small-cap stocks outperformed as investors rotated toward domestically oriented businesses with stronger earnings visibility, healthier order books and sound balance sheets," Vinod Nair, Head of Research, Geojit Investments said. 

"Healthcare and FMCG attracted buying on their defensive earnings profiles and domestic demand linkage, while mid- and small-cap IT names and consumer durables declined on concerns over global technology spending and discretionary demand in a higher-for-longer interest rate environment and persistent pricing pressure, respectively," he added.

Among sectors, the defense index lost the most, shedding 3.80 percent, whereas despite weak market sentiment, India tourism  and media indices rallied over 1 percent, Athawale noted.

FII outflows

"On the flows front, FIIs stayed net sellers for the fifth straight week, offloading Rs 7620 crore. DIIs extended their buying streak with net purchases of Rs 11,232 crore, which helped the index recover from its mid-week lows," Mukherjee said. 

Market outlook

According to Nair, with geopolitical risk unresolved and foreign flows yet to revive meaningfully, the recovery remains contingent on further easing of external pressures.

Brent crude oil prices eased slightly during the week but continue to stay above USD 100.

Market participants will closely track Brent crude prices, US-Iran geopolitical developments, and the upcoming US and domestic PMI data for cues on near-term direction, Mukherjee said.

"Markets will track India's September flash PMI, August infrastructure output, foreign-exchange reserves and bank credit growth for cues on domestic growth and liquidity. Globally, US industrial production, consumer sentiment and China's Loan Prime Rate decision will provide further cues," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said.

Market movement

The 30-share BSE Sensex dipped 19.63 points, or 0.03 per cent, to settle at 74,294.96. The 50-share NSE Nifty extended its gains for the third straight, gaining 75.80 points, or 0.33 per cent, to end at 23,346.40.

"On the sectoral front, realty, energy and financial services were the key gainers, while IT, FMCG and auto remained the major laggards. The broader market outperformed, with the Nifty Small cap 100 gaining 1.74 per cent and the Nifty Midcap 100 rising 1.24 per cent, indicating strong buying interest beyond the frontline indices," Pabitro Mukherjee, Deputy Vice President Research, Bajaj Broking.

Among the Sensex firms, Adani Ports, Power Grid, HDFC Bank and Bharti Airtel were among the major winners. Tata Consultancy Services, Titan, Asian Paints, Maruti Suzuki, Tech Mahindra and Tata Steel were among the major laggards.

On Thursday, the Sensex slipped 21.86 points, or 0.03 per cent, to settle at 74,314.59, while the Nifty climbed 53 points, or 0.23 per cent, to end at 23,270.60.

Global cues for Indian equities

Brent crude, the global oil benchmark, declined 1.35 per cent to USD 103.4 per barrel, according to news agency PTI.

"Indian equities extended their recovery as moderation in crude and global yields improved risk appetite, despite concerns around the continued geopolitical uncertainty. Investor sentiment was further supported by positive global cues following largely anticipated policy actions from major central banks," Vinod Nair, Head of Research, Geojit Investments said. 

"The rebound was broad-based across sectors, although IT stocks declined amid profit booking, as concerns lingered that prolonged higher-interest-rate could weigh on global tech spending. While the recent moderation in oil prices and yields has provided near-term relief, the sustainability of the market recovery will depend on further easing of global macro risks and a meaningful revival in foreign investor inflows," he added.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,208.76 crore on Thursday. In contrast, Domestic Institutional Investors (DIIs) continued to provide support purchasing equities worth Rs 3,617 crore.

In Asian markets, South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite index and Hong Kong's Hang Seng index ended higher.

(With inputs from PTI)

Market movement

The 30-share BSE Sensex surged 174.98 points or 0.24 per cent to 74,489.57 in early trade. The 50-share NSE Nifty jumped 53 points or 0.23 per cent to 23,323.60.

"Technically, the market is currently witnessing range-bound activity, and intraday patterns suggest that a pullback formation is likely to continue soon," Shrikant Chouhan, Head Equity Research, Kotak Securities said.

Among the 30 Sensex firms, Eternal, InterGlobe Aviation, Adani Ports, Ultratech Cement, HDFC Bank were the major winners, while Tata Consultancy Services, Tech Mahindra, Titan, Infosys and HCL Tech were among the laggards.

"The focus of investors now is the IPO market and the listing gains from IPOs. Consequently the secondary market is languishing with prices of large-caps getting depressed. For long-term investors, this is an opportunity. Leading banks, capital goods majors, select automobiles and pharmaceutical stocks provide buying opportunities," V K Vijayakumar, Chief Investment Strategist, Geojit Investments said.

On Thursday, the benchmark indices ended on a mixed note as the Sensex slipped 21.86 points, or 0.03 per cent, to settle at 74,314.59, while the Nifty gained 53 points, or 0.23 per cent, at 23,270.60. 

Global cues

"Global cues have turned more supportive, with Wall Street rebounding sharply from the previous session's Fed-driven selloff. The S&P 500 gained 1.1 per cent, while the Nasdaq surged 1.7 per cent, led by chipmakers, as easing bond yields and a retreat in crude prices provided some relief," Rajesh Palviya, Head of Research, Axis Direct, said.

"However, the Federal Reserve's hawkish stance and the possibility of further tightening continue to keep global sentiment cautious," he added.

Brent crude, the global oil benchmark, traded 0.93 per cent lower at USD 103.8 per barrel, according to news agency PTI. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,208.76 crore on Thursday. In contrast, Domestic Institutional Investors (DIIs) continued to provide support purchasing equities worth Rs 3,617 crore.

In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index were quoting higher.

(With inputs from PTI)

"Indian benchmark indices remained in a range throughout the session, with volatility elevated amid the weekly Sensex expiry. Investors continued to digest the previous day's US Federal Reserve rate decision, while persistent geopolitical concerns and elevated crude oil prices remained key overhangs on market sentiment. Despite the volatility, the Nifty managed to hold a positive bias, while the Sensex ended marginally lower," Pabitro Mukherjee, Deputy Vice President Research, Bajaj Broking said.

Market movement

Paring its gains, the 30-share BSE Sensex slipped 21.86 points, or 0.03 per cent, to settle at 74,314.59. 
The 50-share NSE Nifty climbed 53 points, or 0.23 per cent, at 23,270.60. 

"Technically, the market is currently witnessing range-bound activity, and intraday patterns suggest that the pullback formation is likely to continue in the near future," Shrikant Chouhan, Head Equity Research, Kotak Securities said.

Among the 30 Sensex firms, Tata Steel, Bharat Electronics, InterGlobe Aviation, Eternal, Maruti and Asian Paints were among the gainers. HDFC Bank, Titan, ICICI Bank, State Bank of India, Bharti Airtel and Axis Bank were the major laggards.

"Mid- and small-cap stocks continued to outperform as investors favored companies with strong earnings visibility, solid order books, and healthy balance sheets, particularly in the capital goods, industrial, defence, power, and healthcare sectors," Vinod Nair, Head of Research, Geojit Investments said.

On Wednesday, the Sensex gained 332.63 points, or 0.45 per cent, to settle at 74,336.45. The Nifty advanced 99 points, or 0.43 per cent, to end at 23,217.60.

Global cues

In Asian markets, Japan's Nikkei 225 index ended higher, while South Korea's Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng index settled lower.

Brent crude, the global oil benchmark, declined 1.61 per cent to USD 104.1 per barrel, according to news agency PTI. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,032.61 crore on Wednesday.

"Investor sentiment is likely to stay cautious amid concerns over a possible broader rate-tightening cycle, driven by ongoing Middle East tensions and the risk of US tariff," Nair said. 

(With inputs from PTI)

Market movement

The 30-share Sensex edged up 73.67 points or 0.10 per cent at 74,410.12 in the initial trade, while the 50-share NSE Nifty jumped 67.90 points or 0.29 per cent at 23,285.50.

"Under normal circumstances, 5 per cent yield on the 10-year would have triggered a sell-off in equity markets. But this is not happening now since US corporate earnings continue to be good," V K Vijayakumar, Chief Investment Strategist, Geojit Investments said. 

He added that Federal  Reserve Chair Kevin Warsh's comment reflect a resilient economy and strong corporate sector. 

"This has the potential to act as a counterbalance to the high bond yields, thereby preventing a sell-off in the equity markets," he said. 

Among the Sensex constituents, Eternal, Bharat Electronics, Bajaj Finance, Mahindra & Mahindra and Axis Bank were among the gainers. The shares of Eternal, the parent company of Blinkit and Zomato, was trading 2.73 per cent higher in the early deals. HCL Tech, Tata Consultancy Services, HDFC Bank, Infosys, Titan were among the major laggards in the initial trade. 

On Wednesday, the Sensex surged 332.63 points, or 0.45 per cent, to settle at 74,336.45. The Nifty advanced 99 points, or 0.43 per cent, to end at 23,217.60.

Weak global cues 

"Indian market will continue to struggle. FIIs have been continuous sellers in India during the last six days and this trend is likely to continue. Another concern is the news of the US House of Representatives passing a bill to impose 100 per cent tariff on countries like India which import oil from Russia. The geopolitical scene and Trump's policies are getting murkier,"  Vijayakumar said.

According to news agency PTI, Brent crude, the global oil benchmark, traded 0.12 per cent lower at USD 105.7 per barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,032.61 crore on Wednesday.

In Asian markets, South Korea's Kospi and Japan's Nikkei 225 were trading higher, while Shanghai's SSE Composite index and Hong Kong's Hang Seng index quoted lower.

"For India, the combination of higher US yields, a stronger dollar and crude oil above USD 100 a barrel remains a challenging mix. The rupee could remain under pressure, while domestic bond yields may stay elevated and foreign portfolio flows could remain volatile," Rajesh Palviya, Head of Research, Axis Direct said.

"In the near term, equity markets may remain volatile, with rate-sensitive and richly valued segments facing pressure. Over the short term, however, if oil prices stabilise and the Fed signals a limited tightening cycle, markets could gradually shift focus back to domestic earnings and growth," he added.

(With inputs from PTI)

"The recovery was supported by value buying at lower levels, while a pause in the recent crude rally provided some relief," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said.

Market movement

The 30-share BSE Sensex surged 332.63 points, or 0.45 per cent, to settle at 74,336.45. The 50-share NSE Nifty advanced 99 points, or 0.43 per cent, to end at 23,217.60.

Among the 30 Sensex firms, ITC, State Bank of India, Axis Bank, Trent, Mahindra & Mahindra and Bharat Electronics were among the major gainers. IT stocks were among the laggards, with Tata Consultancy Services (TCS), Infosys, Tech Mahindra and HCL Tech all declining. Shares of TCS declined 2.60 per cent, while hose of Infosys were down 1.43 per cent and Tech Mahindra traded 1.26 per cent lower. Bajaj Finserv were among major laggards.

"Domestically, large-cap stocks led the gains, driven by strength in banking, FMCG and automobile counters, while the IT sector witnessed selective profit booking following its recent outperformance," Vinod Nair, Head of Research, Geojit Investments said. 

On Tuesday, the Sensex plunged 777.94 points, or 1.04 per cent, to settle at a three-month low of 74,003.82, while the Nifty tanked 279.50 points, or 1.19 per cent, to end at 23,118.60, a five-month low.

Global cues for the equities

"Elevated crude oil prices, with Brent trading near the USD 108 per barrel mark, continued to weigh on investor sentiment and kept market participants cautious," Pabitro Mukherjee, Deputy Vice President-Research, Bajaj Broking said. 

According to news agency PTI, Brent crude, the global oil benchmark, dipped 0.83 per cent to USD 107.8 per barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,977.86 crore on Tuesday.

In Asian markets, South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite index and Hong Kong's Hang Seng index ended higher."Investors now await the Fed Chair's commentary for deeper insight into the future rate trajectory, with the guidance expected to influence global liquidity conditions, capital flows and the near-term direction of financial markets," Nair said.

(With inputs from PTI)

Market movement

The 30-share BSE Sensex gained 348.52 points, or 0.47 per cent, to 74,352.34 in the initial trade, while the 50-share NSE Nifty advanced 101.15 points, or 0.44 per cent to 23,219.75 in the early deals.

Among the 30 Sensex constituents, only eight were trading lower in the early trade. Mahindra & Mahindra, ITC, HCL Tech, Reliance Industries, State Bank of India and Axis Bank were among the gainers. Shares of Mahindra & Mahindra were quoting 2.31 per cent higher in the early deals. Tata Steel, Eternal, NTPC, Tata Consultancy Services and Larsen and Toubro were among the laggards.

On Tuesday, the Sensex plunged 777.94 points, or 1.04 per cent, to settle at 74,003.82, while the Nifty tanked 279.50 points, or 1.19 per cent, to end at 23,118.60, a five-month low.

The overall market texture remains volatile, noted Shrikant Chouhan, Head Equity Research, Kotak Securities.

Global macroeconomic cues

"Brent crude remained elevated near USD 108 a barrel, keeping concerns over India's import bill, inflation and the rupee's weakness in focus," Rajesh Palviya, Head of Research, Axis Direct said.

"With the Federal Reserve's rate decision due later tonight, market volatility is likely to remain elevated. A dovish tone could trigger a relief rally, while a continued hawkish stance may keep pressure on equities," he added.

According to news agency PTI, Brent crude, the global oil benchmark, traded 0.63 per cent lower at USD 108.1 per barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,977.86 crore on Tuesday.

In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index all traded higher.

"The weak market construct continues with elevated US bond yields and high crude prices contributing significantly to the weakness. So long as these two crucial macros remain high it would be unrealistic to expect a strong rebound in the market. FIIs have been sellers in the market during the last 5 days and with the US 10-year yield at 5 per cent they are likely to sell at every small rally in the market," V K Vijayakumar, Chief Investment Strategist, Geojit Investments said. 

(With inputs from PTI)

The 30-share BSE Sensex climbed 25.56 points or 0.03 per cent at 74,807.32 in the initial trade. The 50-share NSE Nifty dipped 16.55 points or 0.07 per cent at 23,379.85 in the early deals. The market indices had opened on a higher note before paring the gains.

The gainers and laggards in early deals

Among the 30 Sensex constituents, IT stocks were the gainers in the early deals, with HCL Tech, Tech Mahindra, Infosys and TCS all trading well over 3 per cent. The shares of HCL Tech rose 5.47 per cent, while the stocks of Tech Mahindra and Infosys gained 4.48 per cent and 4.04 per cent, respectively. TCS stocks were trading 3.91 per cent higher. 

HDFC Bank was also among the gainers, with its stock trading 2.67 per cent higher. 

"A positive for the Indian market is that there is clarity emerging on the choice of HDFC Bank MD and CEO. A quick acceptance of the  name of the successor by the RBI can influence the benchmark index significantly," V K Vijayakumar, Chief Investment Strategist, Geojit Investments said.

Bharat Electronics, InterGlobe Aviation, NTPC, Bajaj Finserv and ICICI Bank were among the laggards in the early trade.

On Friday, the Sensex dropped 120.83 points or 0.16 per cent to end at 74,781.76, while the Nifty slipped 79.70 points or 0.34 per cent to settle at 23,398.10.

Last week, the domestic equity benchmark indices extended losses for the fifth straight week amid a surge in global crude oil prices due to the heightened tensions between US and Iran, and higher US bond yield rates. 

On Monday, the Indian stock exchanges were closed on account of Ganesh Chaturthi.

Global cues for the market

"After Monday's holiday for Ganesh Chaturthi, global cues remain mixed.The 10-year US Treasury yield briefly crossed 5 per cent, its highest level since 2023, ahead of this week's Federal Reserve decision," Rajesh Palviya, Head of Research, Axis Direct said.

"Asian markets are trading mixed, with the Nikkei up around 0.4 per cent, Hang Seng gaining 0.5 per cent, while the Kospi remains largely flat. Brent crude is hovering near USD 107 a barrel following supply disruptions in the Middle East, adding to concerns for India as a net oil importer," he added.

According to news agency PTI, Brent crude, the global oil benchmark, was trading higher by 1.19 per cent at USD 106.94 per barrel in futures trade. Foreign Institutional Investors (FIIs) had offloaded equities worth Rs 930.90 crore on a net basis on Friday.

In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index quoted higher, while Shanghai's SSE Composite index and Hong Kong's Hang Seng index traded lower.

"The macro scenario will continue to be under pressure from the rising crude price. Brent crude at USD 107 and the damage caused to the Saudi East-West oil pipeline from the Houthi attack will continue to weigh on markets," Vijayakumar said. 

(With inputs from PTI)

According to the official holiday calendar issued by the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), the bourses will remain closed on Monday, September 14, 2026. As per the official statements, the exchanges will be closed on account of Ganesh Chaturthi. Investors cannot buy and sell shares during the regular trading window. Trading in equity derivatives will also remain closed on Monday. The trading activity on both the exchanges will resume on Tuesday, September 15.

Besides, in the commodity market, the Multi Commodity Exchange will also observe Ganesh Chaturthi and this will lead to partial disruption in services. According to the MCX, trading activity will remain closed in the morning session between 9 am to 5 pm but will resume in the evening session at 5 pm.

What happened to the markets last week?

Last week, the domestic equity benchmark indices extended losses for the fifth straight week amid a surge in global crude oil prices due to the heightened tensions between US and Iran. Analysts also pointed out that the booming activity in the primary markets with nearly 12 mainboard IPOs valued at over Rs 7000 crore during the week diverted the investor sentiment from the secondary market, weighing on the indices.

During the week, the Sensex tumbled 1,733.67 points or 2.27 per cent, while the Nifty slipped 499.60 points or 2.09 per cent. The benchmark indices declined on four out of the five days during last week. 

On Friday, the 30-share BSE Sensex dropped 120.83 points or 0.16 per cent to end at 74,781.76, while the 50-share NSE Nifty slipped 79.70 points or 0.34 per cent to settle at 23,398.10. 

What is Ganesh Chaturthi?

Ganesh Chaturthi, also known as Vinayaka Chaturthi, is one of the most widely celebrated festivals among Hindus. The occasion marks the birth of Lord Ganesha, who is revered as the remover of obstacles and the God of wisdom and prosperity. The festival is marked by spiritual rituals and lively celebrations.

According to the Hindu calendar, Ganesh Chaturthi is observed on the fourth day (Chaturthi) of the Shukla Paksha of the Bhadrapada month, which usually falls in August or September as per the Gregorian calendar.

Analysts also pointed out that the booming activity in the primary markets with nearly 12 mainboard IPOs valued at over Rs 7000 crore during the week diverted the investor sentiment from the secondary market, weighing on the indices.

The benchmark indices corrected sharply and the market breached the 23,800/76,000 crucial support zone, and post-breakdown, selling pressure intensified, according to Amol Athawale, VP Technical Research, Kotak Securities.

During the week, the Sensex tumbled 1,733.67 points or 2.27 per cent, while the Nifty slipped 499.60 points or 2.09 per cent. The indices declined on four out of the five days during last week. 

"Domestic equities ended the week decidedly lower, extending the corrective trend, as an energy-led inflation narrative dominated sentiment. Crude sustaining above the USD 100 per barrel mark, on continued hostilities and retaliatory action in West Asia, remained the central variable through the week. Compounding the pressure, the fund flow environment turned increasingly challenging as expectations of synchronized monetary tightening gained traction," Vinod Nair, Head of Research, Geojit Investments said. 

"Rising global bond yields, together with concerns over a potential unwind of yen-funded carry trades amid expectations of a Bank Of Japan (BOJ) rate hike and a stronger yen, weighed on investor risk appetite and heightened concerns over capital flows into emerging markets. Domestically, rising bond yields and a depreciating rupee weighed on sentiment through the week," he added.

On Friday, the market indices however recovered from their intraday lows to minimise the fall as the crude oil prices eased. The 30-share BSE Sensex dropped 120.83 points or 0.16 per cent to end at 74,781.76, while the 50-share NSE Nifty slipped 79.70 points or 0.34 per cent to settle at 23,398.10. 

Sectoral performance

"Midcap 100 and Smallcap 100 declined 0.3 per cent and 0.6 per cent, respectively. Private Banks outperformed gaining 0.5 per cent, while Realty was among the key laggards, with the Nifty Realty index declining sharply and hitting a more than two-month low, led by Godrej Properties and Lodha, amid the broader risk-off sentiment and rising bond yields," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said.

Realty and IT sectors witnessed the highest selling pressure, declining around 5–7 per cent during the week.

FII outflows

Foreign Institutional Investors (FIIs) ended the week as net sellers for the fourth consecutive week, offloading Rs 1,795 crore. Domestic Institutional Investors (DIIs) stayed on the buy side, extending their streak with accumulation of Rs 6,419 crore, said Pabitro Mukherjee, Deputy Vice President-Research, Bajaj Broking said.

Market outlook

According to Khemka, investors will focus next week on India's August CPI and WPI inflation, the US Fed policy decision next week, US retail sales and industrial production, with crude prices, the rupee and global yields remaining key market monitorable.

In the primary market, the National Stock Exchange's (NSE) Rs 22,569 crore-IPO is going to hit the market on September 17 with a price band of Rs 1,700–1,785 per share for its issue.

"The coming week brings a dense macro calendar with key releases like the US and domestic inflation prints and policy decisions from both the Fed and the BoJ, which, alongside the trajectory of crude, will set near-term direction. Elevated energy prices sustained foreign outflows and geopolitical uncertainty will keep volatility high. However, resilient domestic fundamentals and strong institutional support could continue to attract buying at lower levels and contain the downside," Nair said.

Market movement

In the initial trade, the 30-share BSE Sensex tanked 645.30 points or 0.86 per cent at 74,257.29, while the 50-share NSE Nifty lost 216.40 points or 0.92 per cent at 23,261.40. 

Among the 30 Sensex constituents, only five were trading higher in the early deals. HCL Tech, Tech Mahindra, Infosys, Bharti Airtel and ITC were among the major gainers in the initial trade while Bajaj Finance, InterGlobe Aviation, Mahindra and Mahindra, Tata Steel, Ultra Tech Cement were the laggards.

On Thursday, the benchmark indices recovered to snap their three-day losing streak as the Sensex gained 138.36 points, or 0.19 per cent, to settle at 74,902.59, while the Nifty climbed 46.30 points, or 0.20 per cent, to end at 23,477.80.

Weak global cues for the equity markets

"Global sentiment has turned risk-averse, with US markets extending their decline for a fourth session and Asian equities opening sharply lower. Investors are also awaiting US inflation data due later today, which could influence expectations around the Federal Reserve's upcoming policy decision and add to near-term volatility," Hitesh Tailor, Technical Research Analyst at Choice Broking  said.

According to Rajesh Palviya, Head of Research, Axis Direct, "Asian markets are reflecting similar risk aversion, with the Nikkei and Kospi down more than 2 per cent and the Hang Seng lower by around 1.3 per cent. Brent crude remains elevated near USD 109 a barrel, close to a five-month high, keeping pressure on India's import bill and inflation outlook".

In Asian markets, South Korea's Kospi, Shanghai's SSE Composite index, Japan's Nikkei 225 and Hong Kong's Hang Seng index all traded lower.

Brent crude, the global oil benchmark, was trading marginally lower by 0.76 per cent at USD 108.45-per-barrel in futures trade, while Foreign Institutional Investors (FIIs) offloaded equities worth Rs 438.24 crore on a net basis on Thursday, as per news agency PTI.

"Headwinds for the market are getting stronger with the escalation in the Middle East conflict. Brent crude has shot up to around USD 108. If this high price sustains, or worse, spikes further, the impact on India's GDP growth and consequently on corporate earnings will not be insignificant. An equally strong headwind is the rise in US bond yields. The 10-year yield, now at 4.96 per cent, is approaching the 5 per cent mark, which many regard as a possible inflection point for global equities. A correction in global equity market is likely, but the timing is hard to predict," V K Vijayakumar, Chief Investment Strategist, Geojit Investments said. 

(With inputs from PTI)

Market indices in initial trade

The 30-share BSE Sensex slumped 463.57 points or 0.61 per cent at 75,114.01 in the initial trade. The 50-share NSE Nifty dropped 122.80 points or 0.52 per cent to 23,512.30 in the early trade.

According to analysts the booming primary market with heightened activity around initial public offering (IPO) is also weighing on the benchmark indices.

"The listing gains from IPOs, which has increased to about 22 per cent since June, are driving investors- both retail and institutional into the IPO market. This is understandable since Nifty return year to date is negative 9.5 per cent. Even Foreign Institutional Investors (FIIs) who have sold equity for Rs 2,84,000 crores through the exchanges so far this year have put in about Rs 36,000 crores in IPOs so far this year. Everyone is riding the momentum in the IPO market. This frenzy has pushed up the IPO valuations, too. IPOs are getting subscribed irrespective of valuations," V K Vijayakumar, Chief Investment Strategist, Geojit Investments said.

In the early deals, among the Sensex constituents, NTPC, Larsen & Toubro, Power Grid, Sun Pharma, Adani Ports were the gainers, while IT stocks declined over 2 per cent. HCL Tech, Tech Mahindra, Infosys and TCS all were trading low, with HCL Tech shares declining 3.04 per cent.

On Tuesday, Sensex tanked 555.23 points, or 0.73 per cent, to settle at 75,577.58, while the Nifty declined 144.05 points, or 0.61 per cent, to end at 23,635.10.

Global factors affecting the benchmark indices

"Asian markets are offering some respite this morning, with the Nikkei gaining around 0.7 per cent and the Kospi trading modestly higher. However, Brent crude above USD 99 a barrel, a six-week high, remains a key concern for India, given its high dependence on crude imports," Rajesh Palviya, Head of Research, Axis Direct said.

"For now, market direction will remain closely tied to crude oil prices and developments in the Middle East; any moderation on either front could trigger a stabilisation and a recovery in equities," he added.

According to news agency PTI, Brent crude, the global oil benchmark, traded 1.44 per cent higher at USD 99.33 per barrel, while Foreign Institutional Investors (FIIs) offloaded equities worth Rs 123.19 crore on Tuesday.

In Asian markets, South Korea's Kospi and Shanghai's SSE Composite index traded higher while Japan's Nikkei 225 and Hong Kong's Hang Seng index quoted lower.

(With inputs from PTI)

How did the benchmark indices move?

"Indian benchmark indices opened on a flat note but remained under pressure throughout the session, with continued selling in large-cap stocks weighing on the benchmarks. Elevated crude oil prices, with Brent remaining near the USD 97 per barrel mark, along with the absence of any significant resolution to ongoing geopolitical uncertainties, kept investor sentiment cautious and restricted buying interest,",Pabitro Mukherjee, Deputy Vice President Research, Bajaj Broking said.

The 30-share BSE Sensex slipped 382.62 points, or 0.50 per cent, to settle at 76,132.81.The 50-share NSE Nifty shed 118.55 points, or 0.50 per cent, to end at 23,779.15.

Among the 30 Sensex constituents, Larsen & Toubro, Bharti Airtel, Maruti Suzuki, Power Grid and ICICI Bank were among the major gainers. Infosys, Tech Mahindra, Tata Steel, Bajaj Finserv, UltraTech Cement and Tata Consultancy Services were among the major laggards.

"Domestic main benchmark indices and large-cap stocks remain influenced by developments in the Strait of Hormuz, while the broader market shows a clear divergence, with small-caps and select mid-caps rally backed by stronger earnings. Value buying has gained traction following the late-2025 and early-2026 sell-off, making valuations attractive as corporate earnings shifts from downgrades to upgrades," Vinod Nair, Head of Research, Geojit Investments said. 

"However, the broader market rally is becoming stretched, leaving Dalal Street increasingly exposed to supply-chain disruptions and the risk of weaker high-frequency macroeconomic indicators. In Q1, higher input costs had little impact on corporate earnings due to stronger consumer demand and tax reduction gains, accommodating product and service price hikes. Going forward, there is a growing risk that these supportive factors may fade potentially, weakening earnings expectations and increasing vulnerability to the broad market rally," he added.

The market benchmark indices have been on a downward trajectory, since the past four weeks and had settled lower on four of the five days last week. On Friday, the Sensex advanced 362.57 points, or 0.48 per cent, to settle at 76,515.43, while the Nifty climbed 24.25 points, or 0.10 per cent, to end at 23,897.70.

Global cues

According to news agency PTI, Brent crude, the global oil benchmark, climbed 0.61 per cent to USD 96.87 per barrel, while Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,111.94 crore on Friday.

"Indian equities are likely to remain under pressure amid weak global cues, elevated crude prices and continued concerns over supply disruptions following the latest escalation in US-Iran hostilities around the Strait of Hormuz. Brent crude, traded 0.4 per cent higher at USD 96.7 per barrel," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said.

In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index ended higher, while Hong Kong's Hang Seng index settled lower.

(With inputs from PTI)

Market movement in early trade

The 30-share BSE Sensex shed 248.48 points or 0.32 per cent at 76,266.95 in the early trade. The 50-share NSE Nifty lost 72.35 points or 0.30 per cent at 23,825.35 in the early deals.

According to V K Vijayakumar, Chief Investment Strategist, Geojit Investments the ongoing initial public offering (IPO) boom have attracted the investors towards the primary markets, which is weighing on the benchmark indices.

"There are eleven mainboard IPOs hitting the market this week. The mega IPOs from NSE and Jio also are expected this month. These mega IPOs are expected to absorb humongous liquidity from the market. Investors are looking for listing gains from these IPOs. In brief, the present focus is on the IPO market rather than the secondary market. This is likely to continue throughout September," he said. 

Among the 30  Sensex constituents, Bharat Electronics, ICICI Bank, Bharti Airtel, Maruti Suzuki, and Eternal were the major gainers in the early trade. IT stocks were all quoting lower. Infosys, Tata Steel, HCL Tech, Tech Mahindra Kotak Mahindra Bank and Tata Consultancy Services (TCS) were among the laggards in the early trade. Infosys stock was trading 2.58 per cent lower  in early deals.

The market benchmark indices have been on a downward trajectory, since the past four weeks and had settled lower on four of the five days last week. On Friday, the Sensex advanced 362.57 points, or 0.48 per cent, to settle at 76,515.43, while the Nifty climbed 24.25 points, or 0.10 per cent, to end at 23,897.70.

Global cues

"Asian markets are trading higher, while Wall Street remains shut today for Labour Day. Crude oil remains the key swing factor for Indian equities. Brent is hovering around USD 97 a barrel following weekend US strikes on three Iranian tankers and Tehran's announcement of a restricted zone beyond the Strait of Hormuz—developments that could amplify inflationary pressures for an import-dependent economy," Rajesh Palviya, Head of Research, Axis Direct said. 

According to news agency PTI, Brent crude, the global oil benchmark, traded 0.78 per cent higher at USD 97 per barrel, while Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,111.94 crore on Friday.

In Asian markets, South Korea's Kospi, Japan's Nikkei 225 traded higher while Shanghai's SSE Composite index and Hong Kong's Hang Seng index quoted lower.

(With inputs from PTI)

The benchmark indices declined on four of the five days this week on weak global cues due to the geopolitical tensions and a hawkish stance of the US Federal Reserve. 

During the week, the Sensex declined 749.08 points or 0.97 per cent, while the Nifty lost 277.95 points or 1.15 per cent.

"The risk appetite of domestic investors turned decidedly cautious as Indian equities traded with a volatile undertone, pressured by two external concerns; rising crude oil prices and a deepening global bond rout. Compounding this, market participants took their cues from a shifting narrative among US Fed officials," Vinod Nair, Head of Research, Geojit Investments said. 

"Early in the week, the hawkish signalling from the Jackson Hole address weighed heavily on sentiment. However,  towards the close, Fed Governor Waller's remarks flagging early signs of disinflation and an inclination to hold rates steady  offered some respite, even as an underlying caution lingered," he added.

On Friday the 30-share BSE Sensex advanced 362.57 points, or 0.48 per cent, to settle at 76,515.43. The 50-share NSE Nifty too traded in the positive territory, climbing 24.25 points, or 0.10 per cent, to end at 23,897.70.

During the week, India reported a GDP growth of 7.8 per cent for the first quarter of the current fiscal year, beating market estimate. However, the strong growth momentum was overshadowed due to the renewed military action between USA and Iran, fuelling concerns of a possible disruption in oil supply. 

India is the third largest importer and consumer of crude oil and a rising crude oil price has an impact on the country's import bills.

Brent crude, the global oil benchmark traded at USD 96.28 or 0.80 per cent higher.

Sector-wise performance

"Among sectors, the Auto index lost the most, shedding over 3.8 percent, whereas the Oil and Gas index outperformed, rallying 1.30 percent," Amol Athawale, VP Technical Research, Kotak Securities said.

Metals also outperformed, while Realty, Healthcare and Chemicals were among the key laggard, according to Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services.

"Broader markets were mixed, with the Nifty Midcap 100 declining 0.2 per cent and Smallcap 100 gaining 0.2per cent," he said.

FIIs and DIIs

According to Pabitro Mukherjee, Deputy Vice President-Research, Bajaj Broking, Foreign Institutional Investors (FIIs) stayed on the sell side for a third consecutive week during last week, offloading Rs 56.1 billion worth of Indian equities, while Domestic Institutional Investors (DIIs) extended their buying streak with net purchases of Rs 231.6 billion.

"FIIs were net seller for three sessions during last week including the quarterly MSCI index rebalancing session on Monday, August 31, 2026. While DIIs were net buyer in all five sessions during last week," he said.

Market Outlook

On the domestic front, the robust activity in the primary stock market with a slew of launches is expected to attract investment opportunities.

"The primary market remains active, with 11 mainboard IPOs scheduled to open next week, targeting over Rs 7,000 crore in aggregate. Several companies are also lined up for listing, keeping primary-market activity elevated despite the cautious secondary-market backdrop," Khemka said. 

The geopolitical tensions in the Middle East and the rising crude oil prices remain a key overhang for the market according to analysts.

Moreover, investors will also watch for further cues from the US Federal Reserve and its interest rate outlook.

"Looking ahead, with consensus expectations for a softer August US core inflation print , investors will be focused on whether incoming US macro data can reinforce the case for a Fed pause. With this in view, the US employment data, followed by next week's US CPI print will be crucial in shaping the interest-rate outlook and bond-yield volatility," Nair said.

The market movement

The 30-share BSE Sensex declined 417.49 points, or 0.55 per cent, to close at 76,152.86. The 50-share NSE Nifty dipped 41 points, or 0.17 per cent, to settle at 23,873.45.

During the initial trade the benchmark indices had rebounded to trade in the positive territory, however they pared their gains during the end of the session.

"Indian benchmark indices opened with a gap-up but failed to sustain the early gains and ended lower, extending their losing streak to the fourth consecutive session. Selling pressure intensified amid a fresh breakout in Brent crude oil prices above the USD 95 per barrel mark, while elevated geopolitical tensions continued to weigh on investor sentiment. The session also witnessed heightened volatility, led by the Sensex, as investors remained cautious amid the uncertain global backdrop," Pabitro Mukherjee, Deputy Vice President Research, Bajaj Broking said.

According to Vinod Nair, Head of Research, Geojit Investments, banking and realty stocks provided leadership, while small-caps attracted investor interest, reflecting confidence in domestic growth prospects.

Among the 30 Sensex constituents, Axis Bank, Adani Ports, Asian Paints, HDFC Bank, Bharti Airtel, Bharat Electronics Ltd and Tata Steel were among the gainers, while Titan, Trent, ITC, Mahindra & Mahindra, Bajaj Finserv, HCL Technologies, Tech Mahindra, Sun Pharmaceuticals, Tata Consultancy Services, UltraTech Cement and Bajaj Finance were the major laggards. Bank stocks had rallied during the day on higher FCNR B mobilisation.

Crude prices keeps investors cautious

"The market's recovery attempt lost steam as supportive global cues and renewed FII inflows collided with lingering geopolitical tensions and elevated global yields," Nair said. 

"Stubbornly high crude oil prices continue to act as key overhangs for the domestic market. While India's strong growth momentum and recent sovereign rating upgrade remain powerful structural positives, near-term market direction will largely depend on the evolution of global macro and geopolitical risks," he added.

According to news agency PTI, Brent crude, the global oil benchmark, rose 1.57 per cent to USD 97.13 per barrel.

"Indian equities are likely to remain under pressure amid elevated crude prices, keeping investor sentiment cautious. Brent crude rose 1.6 per cent to around USD 97 per barrel, near its highest levels in over a month, as investors continued to monitor Middle East developments," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said.

Foreign Institutional Investors (FIIs) bought equities worth Rs 6,688.37 crore on Wednesday, while Domestic Institutional Investors (DIIs) also purchased shares worth Rs 2,812.98 crore.

According to PTI, Asian markets ended on a mixed note, with Hong Kong's Hang Seng and Japan's Nikkei 225 settling lower. Shanghai's SSE Composite index closed flat, while South Korea's Kospi ended higher.

(With inputs from PTI)

The RBI had also said that the total inflows reached USD 136.377 billion through its special forex swap window to bolster foreign-exchange liquidity, and this triggered buying across the banking sector.

Stocks that gained

Among the Sensex constituents, Axis Bank emerged as the top gainer with its shares rising 1.47 per cent to Rs 1,273.40 per share. The scrip of HDFC Bank rose 0.86 per cent to Rs 707 per share. ICICI Bank advanced 0.83 per cent to Rs 1439.90 apiece and State Bank of India’s shares gained 0.86 per cent to Rs 1,029.50 per share.

Kotak Mahindra Bank was the only laggard among the Sensex constituents, with its shares declining 0.22 per cent to Rs 423.70 per share, from the previous close.

The rally was broad-based across the banking space. The BSE PSU Bank surged 0.97 per cent, while the BSE Private Banks Index gained 0.84 per cent. Bankex and BSE Top 10 Banks advanced 0.65 per cent and 0.69 per cent, respectively.

"A big positive from the rupee perspective is the huge mobilisation of USD 136 billion under concessional swap facility. The USD 127 billion mobilised under the FCNR(B) scheme has come way above the consensus estimates. The implication of this from the market perspective is that the rupee will stabilise, imparting confidence to Foreign Institutional Investors (FIIs)... Also, the huge FCNR(B) mobilisation by banks will help improve their net interest margins (NIMs). This is positive for banking stocks," V K Vijayakumar, Chief Investment Strategist, Geojit Investments said.

Net interest margin is a key financial metric to understand a bank’s profitability.

What is FCNR (B)?

Foreign Currency Non-Resident (Bank) or FCNR (B) deposits is a fixed-term deposit account offered by Indian banks. It allows non-resident Indians (NRIs), persons of Indian origin, or overseas citizens of India to maintain a fixed deposit in specified foreign currencies. The funds and the interest on these deposits is exempted from tax in India.

The RBI permits these deposits to encourage foreign currency inflows that helps to safeguard the rupee against depreciation and to strengthen India's foreign exchange reserves.

RBI's swap scheme

The RBI had launched the concessional FCNR swap window on June as part of broader steps to encourage capital inflows to boost India's balance of payments during global uncertainty. Under this facility, banks can mobilise new FCNR-B deposits and exchange the dollars with the RBI at a lower, concessional rate.

The facility that was implemented on June 8, 2026, and is available up to September 30, 2026, for the FCNR (B) deposits and up to December 31, 2026, for the Overseas Foreign Currency Borrowings and External Commercial Borrowings.
The RBI on Wednesday said India mobilised a record USD 127.23 billion through Foreign Currency Non-Resident (Bank), or FCNR(B), deposits, as of August 31.

Including overseas foreign-currency borrowings (OFCB) and external commercial borrowings (ECB), total inflows under the measures reached USD 136.377 billion, according to PTI.

(With inputs from PTI)

Market movement

The 30-share BSE Sensex advanced 194.20 points or 0.25 per cent to 76,764.55 in early trade. The 50-share NSE Nifty gained 58.50 points or 0.24 per cent to 23,972.95 in the initial trade.

According to Shrikant Chouhan, Head Equity Research, Kotak Securities, the overall structure remains weak. 

"The market has been breaking important support levels with relatively little effort, which is a matter of concern. A decisive dismissal of the 23,600/75,400 support zone could trigger another round of capitulation. For Thursday, 23,800 on the Nifty and 76,100 on the Sensex will remain crucial trend-deciding levels," he said.

Among the Sensex constituents, bank stocks were the gainers in the early trade, with shares of Axis Bank, ICICI Bank, HDFC Bank and State Bank of India trading over 1 per cent higher. Adani Ports and Tata Steel were also among the major gainers. However, IT stocks such as Tech Mahindra, HCL Tech, Infosys, Tata Consultancy Services (TCS) were among the major laggards along with Titan.

On Wednesday, the Sensex shed 373.93 points, or 0.49 per cent, to settle at 76,570.35, while the Nifty tanked 141.35 points, or 0.59 per cent, to end at 23,914.45. 

Global cues 

"Asian markets are showing signs of stabilisation this morning after Wednesday's sell-off, with the Kospi opening 1.33 per cent higher and the Nikkei broadly flat. Investors are reassessing the latest escalation in the Middle East, while Brent remains elevated around USD 95.43 a barrel, keeping pressure on India's import bill and inflation outlook," Rajesh Palviya, Head of Research, Axis Direct said.

In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index all traded higher.

According to news agency PTI, Brent crude, the global oil benchmark, was trading marginally lower by 0.16 per cent at USD 95.48 per barrel in futures trade, while Foreign Institutional Investors (FIIS) purchased equities worth Rs 6,688.37 crore on a net basis on Wednesday.

"The market sentiment is likely to look up today following the slight easing of the US bond yields. A big positive from the rupee perspective is the huge mobilisation of USD 136 billion under concessional swap facility. The USD 127 billion mobilised under the FCNR(B) scheme has come way above the consensus estimates. The implication of this from the market perspective is that the rupee will stabilise, imparting confidence to FIIs," V K Vijayakumar, Chief Investment Strategist, Geojit Investments said.

"With improving growth and earnings prospects, FIIs  are likely to continue buying in India, despite the elevated US bond yields. Also, the huge FCNR(B) mobilisation by banks will help improve their net interest margins. This is positive for banking stocks,"  he added.

He noted that the market indices, especially, the Nifty declined on Wednesday despite a Rs 9,500 crore of institutional buying, with FIIs purchasing equities worth Rs 6,688 crore and Domestic Institutional Investors (DII) buying equities worth Rs 2,812 crore. 

"So, it is obvious that the brunt of the selling came from retail investors, proprietary traders and bears who used the market weakness to hammer the stocks down. This is likely to reverse today," he further said.

(With inputs from PTI)

The 30-share BSE Sensex plunged 788.52 points to 76,155.76 in early trade. The 50-share NSE Nifty slumped 269 points to 23,786.80 in the initial trade.

"Technically, the Nifty remains vulnerable below 24,150. A break of 23,950 could trigger further weakness toward 23,800, while a sustained move above 24,150–24,200 would ease selling pressure. Near-term direction will largely hinge on crude prices and developments in the Middle East," Rajesh Palviya, Head of Research, Axis Direct said.

Among the Sensex constituents, only three stocks were in the green with the rest 27 trading lower. Adani Ports, Sun Pharma and Kotak Mahindra Bank were the only gainers during the initial trade. InterGlobe Aviation, Asian Paints, Eternal, Bharat Electronics and Bajaj Finserv were the major laggards in the early deals.

"We believe the intraday market structure is volatile and directionless, therefore, level-based trading would be the best strategy for day traders," Shrikant Chouhan, Head Equity Research, Kotak Securities said.

On Tuesday the 30-share BSE Sensex dipped 12.99 points, or 0.02 per cent, to settle at 76,944.28. The 50-share NSE Nifty slipped 24.60 points, or 0.10 per cent, to end at 24,055.80.

Macroeconomic cues

According to V K Vijayakumar, Chief Investment Strategist, Geojit Investments, the market is delicately poised between domestic tailwinds and external headwinds.  On the domestic front, the better than expected Q1 GDP growth of 7.8 per cent, higher GST collections, stronger credit growth and automobile sales and improving prospects for earnings growth are big positives for the market. 

"Unfortunately, the headwinds also are equally strong. The escalation of the US-Iran conflict and the consequent 5 per cent spurt in Brent crude overnight to USD 96 is a sentiment negative. However, this is not a big threat since our CAD is running at only 0.5 per cent and forex reserves are ample at USD 730 billion," he said. 

According to news agency PTI, Brent crude, the global oil benchmark, was trading higher by 0.99 per cent at USD 95.59 per barrel in futures trade while Foreign Institutional Investors (FIIs) purchased equities worth Rs 1,143.38 crore on a net basis on Tuesday.

"The big threat is the rising bond yields in the US. The macro construct in the US indicates further hardening of the bond yields. If the 10-year yield touches 5 per cent that has the potential to trigger a big correction in equity markets globally. Therefore, this is the macro indicator to watch closely. The near-term market trend will depend on which of these forces, the tailwinds or headwinds,  will emerge stronger," Vijayakumar added.

"Global cues remain cautious, with Wall Street extending its decline overnight and Asian markets opening lower," Palviya noted.

In Asian markets, South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite index and Hong Kong's Hang Seng index all traded lower.

(With inputs from PTI)

Market movement

The 30-share BSE Sensex shed 307.24 points, or 0.40 per cent, to settle at 76,957.27. The 50-share NSE Nifty slipped 95.25 points, or 0.39 per cent, to end at 24,080.40.

"Indian benchmark indices remained under pressure throughout the session. Despite multiple attempts to recover from the day's lows, buying momentum failed to sustain, keeping the indices in a narrow range with a negative bias. Volatility increased further during the final hour amid MSCI rebalancing-related activity, leading to sharper intraday swings," Bajaj Broking Research said. 

From the Sensex pack, Sun Pharma, ICICI Bank, Axis Bank, State Bank of India and Bajaj Finserv were among the gainers, while Adani Ports, ITC, Bharti Airtel, HDFC Bank, Infosys and Kotak Mahindra Bank were the major laggards. HDFC Bank stocks which rose 3 per cent during the day, pared their gains and settled 1.53 per cent lower from previous close.

"Among sectors, some buying interest was seen in selective banking stocks, while media and metal indices corrected sharply, shedding over 2.5 percent," Shrikant Chouhan, Head Equity Research, Kotak Securities said.

On Friday, driven by IT stocks, the Sensex surged 330.92 points, or 0.43 per cent, to settle at 77,264.51, while the Nifty gained 84.80 points, or 0.35 per cent, to end at 24,175.65. 

Weak global cues 

"Indian equities are likely to maintain a cautious bias as renewed US-Iran tensions and rising crude prices weigh on sentiment. Brent crude rose 3.7 per cent to around USD91 per barrel after fresh US strikes on Iran, reversing the recent easing and bringing inflation, the rupee and external balances back into focus," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said. 

According to news agency PTI, Brent crude, the global oil benchmark, jumped 3.63 per cent to USD 91.30 per barrel, while Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,039.80 crore on Friday.

"Rising crude oil prices and bond yields have renewed concerns over energy-led inflation and a higher interest rate environment, which could weigh on the earnings cycle. Meanwhile, the Federal Reserve chairman's recent comments after the Jackson Hole address have increased expectations of a potential September rate hike, keeping global yields elevated and contributing to near-term volatility in emerging markets," Vinod Nair, Head of Research, Geojit Investments said.

In Asian markets, South Korea's Kospi and Shanghai's SSE Composite settled higher, while Japan's Nikkei and Hong Kong's Hang Seng index declined.

(With inputs from PTI)

The stock market is open for trading on Friday, August 28, despite it being Raksha Bandhan.

Market movement in early deals

The 30-share BSE Sensex advanced 287.90 points or 0.37 per cent to 77,221.49 in early trade. The 50-share NSE Nifty climbed 44.50 points or 0.18 per cent to 24,135.35 in the initial trade.

"Technically, the Nifty's undertone remains subdued as long as the index trades below 24,300. A sustained close above this level could trigger a recovery towards 24,500, while immediate support is placed at 24,000, followed by 23,900," Rajesh Palviya, Head of Research, Axis Direct said. 

Among the Sensex constituents, IT stocks such as Tata Consultancy Services (TCS), Tech Mahindra, Infosys, HCL Tech all traded higher, with their stocks rising over 2.5 per cent in the early deals. Tata Group firm TCS's shares quoted 3.25 per cent higher. Power Grid and Titan were also among the major gainers in the initial trade. Ultra Tech Cement, ICICI bank, Bajaj Finserv, Hindustan Unilever, State Bank of India were the laggards in the initial deals.

On Thursday, the benchmark indices extended their losses for the second straight day. The Sensex tanked 539.35 points, or 0.70 per cent, to settle at 76,933.59, while the Nifty shed 116.90 points, or 0.48 per cent, to end at 24,090.85.

Global cues for the market

"Asian markets are trading mixed this morning, with the Nikkei gaining 0.61 per cent, while the Kospi is down around 0.8 per cent amid profit-taking in Samsung Electronics and SK Hynix. Brent crude is trading near USD 87 a barrel after touching around USD 84 earlier this week following the Iran-Oman understanding over the Strait of Hormuz," Palviya said. 

In Asian markets, South Korea's Kospi quoted lower, while Shanghai's SSE Composite index, Japan's Nikkei 225 and Hong Kong's Hang Seng index all traded higher.

According to news agency PTI, Brent crude, the global oil benchmark, was trading lower by 0.48 per cent at USD at 89.27 per barrel in futures trade, while Foreign Institutional Investors (FIIS) offloaded equities worth Rs 298.26 crore on a net basis on Thursday

"With the Fed Chair's (US Federal Reserve Chairman Kevin Warsh) Jackson Hole speech due tonight and markets pricing in around a 38 per cent probability of a September rate cut, volatility and caution are likely to remain elevated. However, softer crude oil prices could provide some relief and help the Nifty reclaim its recent trading range," he added.

"Brent crude has again surged to above USD 89 since there are no signs of any diplomatic solutions to reopening the Strait of Hormuz. Total lack of clarity on this issue is weighing on the market," V K Vijayakumar, Chief Investment Strategist, Geojit Investments said adding, "Bond yields in the US continue to remain firm following concerns on the inflation front."

(With inputs from PTI)

As per the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), the festival is not included in the holiday calendar.  Investors can buy and sell shares during the regular trading window as the festival will no disrupt the trading or the settlement process.

On Thursday, the domestic equity benchmark indices extended their losses for the second day. the 30-share BSE Sensex declined 539.35 points, or 0.70 per cent, to settle at 76,933.59, while the 50-share NSE Nifty declined 116.90 points, or 0.48 per cent, to end at 24,090.85.

Raksha Bandhan is observed in several parts of the country and according to the Reserve Bank of India’s website, it is a bank holiday in many states.

These states include Gujarat, Madhya Pradesh, Uttarakhand, Rajasthan, Uttar Pradesh, and Himachal Pradesh. Besides, it is also a bank holiday in Kerala (Shree Narayana Guru Jayanthi and Ayyankali Jayanthi) Jammu and Kashmir (Friday following Eid-I-Milad-Ul-Nabi) and Sikkim (Pang-Lhabsol).

What is Raksha Bandhan?

Raksha Bandhan is observed on the full moon day of the Hindu month of Shravan, which celebrates the bond between brothers and sisters.

On this day, sisters traditionally tie a rakhi around their brothers’ wrists and pray for their well-being, while brothers offer blessings and traditionally promise to protect and support them. The ritual symbolises the idea of protection, goodwill and a sacred bond between siblings.  For many, the festival also represents a broader message of care, responsibility and togetherness.

What is Ayyankali Jayanti?

Ayyankali Jayanti is a regional holiday in Kerala to celebrate the birth anniversary of social reformer Ayyankali who fought for the rights of the depressed classes. 

What is Sri Narayana Jayanthi?

This celebrates the birth anniversary of saint and social reformer Narayana Guru, and is a state festival in Kerala.

What is Pang Lhabsol?

Pang Lhabsol is an eight-day festival in Sikkim that honours Mount Khangchendzonga as the state's guardian deity. The festival, also known as Neysol, celebrates unity, peace, harmony, and brotherhood among the diverse communities of the state.

What is the significance of Friday following Eid-I-Milad-Ul-Nabi?

Devotees go to Hazratbal Shrine in Sringar, Jammu and Kashmir to see the sacred relic Moi-e-Muqaddas on the Friday following Eid-I-Milad-Ul-Nabi. Eid-I-Milad-Ul-Nabi is the birth anniversary of Prophet Mohammad and it was celebrated on August 26.

How did the market move?

"Indian benchmark indices closed near their day's lows as rising crude oil prices in the second half of the session and continued geopolitical concerns weighed on investor sentiment. The market also witnessed elevated intraday volatility due to the monthly Sensex expiry, which kept price action choppy throughout the day and capped any meaningful recovery," Bajaj Broking Research said.

Extending their losses, the 30-share BSE Sensex declined 539.35 points, or 0.70 per cent, to settle at 76,933.59, while the 50-share NSE Nifty declined 116.90 points, or 0.48 per cent, to end at 24,090.85.

"Among sectors, intraday buying was seen in selective pharma and healthcare stocks, while the capital market index shed over 1 percent. Technically, on daily charts, the market has formed a bearish candle, and on intraday charts, it is holding a lower top formation, which is largely negative," Shrikant Chouhan, Head Equity Research, Kotak Securities said.

Among the Sensex constituents, Kotak Mahindra Bank, ICICI Bank, Tech Mahindra and Bharat Electronics were among the major gainers. HDFC Bank, NTPC, Mahindra & Mahindra, Bharti Airtel, HCL Tech and ITC were the major laggards. HDFC Bank shares hit a 52-week low after a lawsuit was filed against the company in New York over alleged violations of securities law.

On Wednesday, the benchmark market indices reversed their gains, as the Sensex slipped 183.15 points, or 0.24 per cent, to settle at 77,472.94, while the Nifty declined 126.80 points, or 0.52 per cent, to end at 24,207.75.

Global factors

"Indian equities are likely to remain range-bound amid a lacklustre market environment, as softer crude prices provide limited relief against weak global cues and selective selling. Brent crude is trading around USD 86 per barrel following progress towards an interim framework for resuming shipping through the Strait of Hormuz, easing immediate supply concerns. However, Nifty remained under pressure, suggesting that geopolitical developments and global risk sentiment is outweighing the benefit from lower oil prices," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services.

According to news agency PTI, Brent crude, the global oil benchmark, edged higher by 0.67 per cent to USD 88.43 per barrel, while, Foreign Institutional Investors (FIIs) bought equities worth Rs 502.63 crore on Wednesday.

"Expiry-led volatility and the lack of a diplomatic breakthrough in the Middle East continue to keep markets range-bound in the near term. While a degree of higher energy prices is largely factored into earnings expectations, the recent moderation in crude oil prices and long-term bond yields is supporting the inflation outlook," Vinod Nair, Head of Research, Geojit Investments said. 

"Meanwhile, FII inflows and resilient earnings momentum remain supportive for Indian equities, particularly mid-caps, where several segments are relatively insulated from global uncertainties and continue to benefit from strong domestic demand trends," he added. 

In Asian markets, South Korea's Kospi and Shanghai's SSE Composite index settled higher, while Japan's Nikkei 225 and Hong Kong's Hang Seng index declined.

(With inputs from PTI)

The 30-share BSE Sensex shed 47.16 points or 0.06 per cent at 77,425.78 in the initial trade. The 50-share NSE Nifty dipped 3.75 points or 0.02 per cent at 24,251.50 during the early deals. 

"Technically, the Nifty remains rangebound as long as it trades below 24,350. A decisive close above this level could open the way towards 24,500, while immediate support is placed at 24,100, followed by 23,950. The near-term bias remains cautiously positive, although sustained gains will depend on whether the AI-led global optimism translates into broader buying interest during the session," Rajesh Palviya, Head of Research, Axis Direct said.

On Wednesday, the benchmark market indices reversed their initial gains, as the Sensex slipped 183.15 points, or 0.24 per cent, to settle at 77,472.94, while the Nifty declined 126.80 points, or 0.52 per cent, to end at 24,207.75.

"Failure to close above last week high will signal consolidation in the range of 24,000-24,350. While a close above 24,360 will signal extension of the pullback towards 24,550 and 24,700 levels in the coming weeks. Overall index is expected to extend the recent consolidation and trade in the broad range of 24,000-24,700 in the coming sessions," Bajaj Broking Research said.

From the Sensex pack, Tech Mahindra, Bajaj Finance, Kotak Mahindra Bank, ICICI Bank, Bharat Electronics and Eternal were the major gainers in the early trades. The shares of Tech Mahindra and Bajaj Finance were trading over 1 per cent higher. HDFC Bank, HCL Tech, Power Grid, NTPC, TCS and Hindustan Unilever were the major laggards during the initial trade.

"The dichotomous nature of the market trend, the midcap index at record highs while the Nifty is languishing about 8 per cent below its peak, is likely to persist in the near-term since money flows and momentum support this small and mid cap stocks (SMIDs) rally. But fundamentally, this divergence is unsustainable beyond a point since valuations in SMIDs is getting stretched," V K Vijayakumar, Chief Investment Strategist, Geojit Investments said.

Global cues

"Brent crude, near USD 86.6 a barrel, has eased for a third consecutive session as concerns over supply disruptions through the Strait of Hormuz moderate, providing some relief to India's import bill," Palviya said.

In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index traded higher, while Hong Kong's Hang Seng index quoted lower.

According to news agency PTI, Brent crude, the global oil benchmark, traded 0.44 per cent lower at USD 87.45 per barrel, while Foreign Institutional Investors (FIIs) bought equities worth Rs 502.63 crore on Wednesday.

"Geopolitical tensions continue to weigh on markets. Apart from the US-Iran tensions, there are reports of renewed escalation in the Russia-Ukraine conflict...Even though the US bond yields have softened a bit, they continue to be too high. This will restrain a sharp rally in the market," Vijayakumar said. 

(With inputs from PTI)

The stock market was open for trading today on August 26, despite it being a bank holiday in several states due to Eid-e-Milad and Onam.

Market movement

"Indian equity benchmarks remained range-bound during Wednesday's session, with the Nifty slipping below the crucial 24,300 mark while the Sensex remained below 77,500. Although Brent crude oil prices cooling towards the USD 85 per barrel mark provided some relief and supported investor sentiment, persistent geopolitical uncertainties kept market participants cautious. With limited directional triggers, investors remained focused on sectoral rotation and stock-specific opportunities," Bajaj Broking Research said.

The 30-share BSE Sensex slipped 183.15 points, or 0.24 per cent, to settle at 77,472.94. The 50-share NSE Nifty declined 126.80 points, or 0.52 per cent, to end at 24,207.75.

During the initial trade Sensex jumped 275.63 points or 0.35 per cent at 77,931.72, while the Nifty gained 33.05 points or 0.14 per cent at 24,367.60.

"On Wednesday, the Nifty 50 pared early gains to end 0.5 per cent lower at 24,207, despite opening in green on softer crude prices and positive Asian cues. IT, FMCG and Consumer durables weighed on the benchmark, while broader markets were mixed with the Nifty Midcap 100 declining 0.1 per cent and the Nifty Smallcap 100 advancing 0.8 per cent," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said.

Among the Sensex constituents, Kotak Mahindra Bank, UltraTech Cement, Axis Bank and Tata Steel were among the major gainers. 

Infosys, Bharti Airtel, Larsen & Toubro, Power Grid, Tech Mahindra, NTPC, Mahindra & Mahindra and Reliance Industries were among the major laggards.

On Tuesday, supported by late buying the Sensex bounced back and gained 286.98 points, or 0.37 per cent, to settle at 77,656.09. while the Nifty recovered to advance 115.50 points, or 0.48 per cent, at 24,334.55.

Why did IT stocks decline?

"Inflation concerns receded on tempered US sanctions on Iran, easing domestic bond yields and lifting banking stocks, while metals gained on better realization prospects. However, these gains were largely offset by weakness in IT stocks after the US paused visa appointments amid an immigration crackdown which rekindled margin pressure concerns. Investors now await the US Core PCE print for greater clarity on the rate trajectory. A contained core reading would indicate that the recent energy-led inflation spike is transitory, easing rate concerns and supporting flows into emerging markets," Vinod Nair, Head of Research, Geojit Investments said.

According to news agency PTI, Brent crude, the global oil benchmark, dropped 2.96 per cent to USD 85.96 per barrel, while Foreign Institutional Investors (FIIs) bought equities worth Rs 1,593.53 crore on Tuesday.

In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index all ended higher.

(With inputs from PTI)

The stock market was open for trading today on August 26, despite it being a bank holiday in several states due to Eid-e-Milad and Onam.

Market movement

The 30-share BSE Sensex jumped 275.63 points or 0.35 per cent at 77,931.72 during the initial trade. The 50-share NSE Nifty gained 33.05 points or 0.14 per cent at 24,367.60.

Among the Sensex constituents, Eternal, Kotak Mahindra Bank, ICICI Bank, Ultra Tech Cement, Bajaj Finserv and Hindustan Unilever were the major gainers in the initial trade, while Infosys, Bharti Airtel, Larsen and Toubro, Bharat Electronics, Tata Steel were the laggards.

On Tuesday, supported by late buying the Sensex bounced back and gained 286.98 points, or 0.37 per cent, to settle at 77,656.09. while the Nifty recovered to advance 115.50 points, or 0.48 per cent, at 24,334.55.

"In the coming sessions, a follow through strength above last week high 24,360 will signal extension of the pullback towards 24,550 and 24,700 levels in the coming sessions. While failure to move above last week high will signal consolidation in the range of 24,000-24,350," Bajaj Broking Research said.

Global cues

"Global cues were supportive, with Wall Street ending higher as the 10-year US Treasury yield eased seven basis points to 4.625 per cent. The S&P 500 gained 0.32 per cent and the Nasdaq advanced 0.66 per cent, led by semiconductor stocks ahead of Nvidia's results. Tokyo is also trading on a positive note following firm gains in the previous session," Rajesh Palviya, Head of Research, Axis Direct.

"For Indian equities, the sharp decline in crude oil prices remains an important positive. Brent has eased from above USD 93 a barrel last week to below USD 87, reducing concerns around imported inflation and the pressure on India’s trade balance that had weighed on sentiment through August," he added.

According to news agency PTI, Brent crude, the global oil benchmark, traded 2.66 per cent lower at USD 86.22 per barrel, while Foreign Institutional Investors (FIIs) bought equities worth Rs 1,593.53 crore on Tuesday.

In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index all traded higher.

"There are two factors which are positive for the market today. One, news of another ceasefire between  the US and Iran and initiatives for resuming shipping through the Strait of Hormuz have brought down the Brent crude rate to USD 86.3. Since a rally in the Indian market has been mainly constrained by the elevated crude prices, this sharp dip in crude is a positive. Two, the dip in bond yields in the US (10-year at 4.64 per cent) is a mild positive for equity markets, globally," V K Vijayakumar, Chief Investment Strategist, Geojit Investments said.

But these are not good enough to trigger a sharp rally in the Nifty since many mega caps in the Nifty are technically weak. The market rally will be led by the broader market which is driven by supporting fundamentals and momentum. It is also important to note that valuations in the broader market are getting stretched," he added.

(With inputs from PTI)

Market movement

After trading in the negative territory, the 30-share BSE Sensex bounced back and gained 286.98 points, or 0.37 per cent, to settle at 77,656.09. The 50-share NSE Nifty too advanced 115.50 points, or 0.48 per cent, at 24,334.55 supported by late buying.

"Indian benchmark indices staged a recovery in the final hour of trade and closed firmly in positive territory after a volatile session on 25 August, the monthly expiry day. Buying interest strengthened towards the close, helping the Nifty reclaim and sustain above the crucial 24,300 mark. The late-session recovery reflected improved risk appetite despite heightened expiry-related volatility," Bajaj Broking Research said. 

During the initial trade, the Sensex slipped 169.51 points or 0.22 per cent at 77,199.60, while the 50-share NSE lost 80.25 points or 0.33 per cent at 24,138.80.

Outperforming the broader market, healthcare and financial sectors gained as investors rotated into defensive and domestic-oriented sectors with signs of some stability in domestic bond market.

From the Sensex pack, InterGlobe Aviation, Adani Ports, Infosys, Trent, Titan and State Bank of India were the major gainers.
Eternal, HCL Tech, Power Grid and Bajaj Finserv were among the major laggards.

On Monday, Sensex shed 171.72 points, or 0.22 per cent, to settle at 77,369.11, while the Nifty dipped 32.95 points, or 0.14 per cent, to end at 24,219.05, as investor sentiment remained cautious amid concerns over Iran's threat to restrict transit through the Strait of Hormuz ahead of Washington's sanctions announcement. 

Global cues

"Indian equities are expected to see some recovery following the decline in crude oil prices. Brent crude fell 3.2 per cent to around USD 89 per barrel, its lowest level in a week, as hopes of easing US-Iran tensions provided some relief to oil markets, while developments around Iran and the Strait of Hormuz remain key monitorable for oil prices, the rupee and foreign flows," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said.

According to news agency PTI, Brent crude, the global oil benchmark, declined 3 per cent to USD 89.32 per barrel, while Foreign Institutional Investors (FIIs) bought equities worth Rs 1,181.66 crore on Monday.

"The much-anticipated US sanctions against Iran fell short of market expectations, causing crude oil prices and bond yields to moderate from their recent peaks. This relief in energy costs aided a moderately positive close today on the monthly expiry day," Vinod Nair, Head of Research, Geojit Investments said.

"Market participants are now awaiting upcoming inflation data and comments from the Fed Chair later this week for better clarity on the inflation and interest rate outlook. However, near-term cautiousness is expected to continue for Indian equities as unresolved US-Iran tensions keep oil prices and bond yields relatively elevated, leaving investors sensitive to sudden shifts in the Middle East geopolitical landscape," Nair added.

In Asian markets, South Korea's Kospi, Japan's Nikkei 225 and Shanghai's SSE Composite index ended higher, while Hong Kong's Hang Seng index marginally declined.

(With inputs from PTI)

Market movement

During the initial trade, the 30-share BSE Sensex slipped 169.51 points or 0.22 per cent at 77,199.60, while the 50-share NSE Nifty lost 80.25 points or 0.33 per cent at 24,138.80.

"The range-bound nature of the market will continue in the near-term with buying emerging at lower levels and selling emerging at higher levels. The near-term range for the Nifty now is 24100-24500 . However, bulk of the market action is beyond Nifty, focused on the mid-cap and small-cap segments," V K Vijayakumar, Chief Investment Strategist, Geojit Investments said.

On Monday, Sensex shed 171.72 points, or 0.22 per cent, to settle at 77,369.11, while the Nifty dipped 32.95 points, or 0.14 per cent, to end at 24,219.05, as investor sentiment remained cautious amid concerns over Iran's threat to restrict transit through the Strait of Hormuz ahead of Washington's sanctions announcement. 

"The near-term bias is likely to remain cautiously positive at the open but rangebound thereafter. A sustained decline in crude oil prices, however, could provide renewed support to equities and improve overall market sentiment," Rajesh Palviya, Head of Research, Axis Direct said.

Among the Sensex constituents, Trent, Adani Ports, ICICI Bank, Axis Bank, Bharti Airtel were the major gainers. Tata Group's retail company Trent's stocks were trading nearly 1 per cent higher in the early deals. HCL Tech, Tech Mahindra, Power Grid, Bajaj Finance, Maruti Suzuki were among the laggards. 

Global cues

"The US sanctions on Iran and the threat of secondary sanctions on countries that trade with Iran have introduced a new wave of uncertainty. Crude is likely to remain at the present high levels, constraining a rally in the market," Vijayakumar said.

According to news agency PTI, Brent crude, the global oil benchmark, was trading higher by 0.30 per cent at USD 92.45 per barrel in futures trade, while Foreign Institutional Investors (FIIs) bought equities worth Rs 1,181.66 crore on a net basis on Monday.

"Asian markets have opened on a weaker note, with Japan's Nikkei down around 1 per cent as pressure on semiconductor stocks persists. Brent crude is holding near USD 90 a barrel after falling 4 per cent on Monday following the sanctions rollout. While the decline offers some relief, crude at these levels continues to pose risks to India's import bill and the rupee, which stood at 95.74," Palviya said.

In Asian markets, South Korea's Kospi, Shanghai's SSE Composite index, and Hong Kong's Hang Seng index were quoting lower, however, Japan's Nikkei 225 was trading in the positive territory. 

(With inputs from PTI)