28 July,2026 05:25 PM IST | Mumbai | mid-day online correspondent
Representational Image. File pic.
Domestic equity benchmark indices ended flat on Tuesday, as investors adopted a cautious approach amid mixed global cues ahead of key global central bank policies.
"The market opened on a muted note, tracking weakness across Asian markets following selling pressure in semiconductor-related stocks, and remained largely range-bound throughout the session with stock-specific action dominating trade," Bajaj Broking Research said.
The 30-share BSE Sensex lost 69.86 points, or 0.09 per cent, to settle at 76,765.92, while the 50-share NSE Nifty shed 10.60 points, or 0.04 per cent, to end at 23,985.35.
On Monday, the benchmark indices had snapped their five-day losing streak and the Sensex had jumped 776.01 points, or 1.02 per cent, to end at 76,835.78, while the Nifty soared 228.50 points, or 0.96 per cent, to settle at 23,995.95.
From the Sensex pack, IT stocks like TCS, Tech Mahindra, Infosys gained, along with Eternal and Titan. TCS and Eternal stocks gained over 4 per cent during the day.
Hindustan Unilever's stocks slumped 6.97 per cent after the FMCG major reported a 3.17 per cent decline in its Q1FY27 net profit to Rs 2,680 crore. The other laggards comprised Bharat Electronics, NTPC, ICICI Bank, Power Grid, and Reliance Industries.
"Indian equities are expected to remain range-bound with a positive bias, supported by easing geopolitical tensions in West Asia after the US President reiterated his preference for a diplomatic resolution with Iran, along with the continued decline in Brent crude oil prices. Market sentiment is likely to remain sensitive to developments surrounding the US-Iran conflict and any disruptions to global oil supplies following the latest Houthi attacks on Saudi oil infrastructure," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said.
According to news agency PTI, Brent crude, the global oil benchmark, dropped 2.82 per cent to USD 85.87 per barrel.
"The respite in crude oil prices provided relief to markets by easing concerns over inflation and input cost pressures. However, investor sentiment remained cautious ahead of key central bank policy meetings this week, including those of the Fed (US Federal Reserve), BoE (Bank of England), and BoJ (Bank of Japan). Persistent volatility in energy markets and heightened geopolitical risks could keep global bond yields elevated this year. Nevertheless, expectations that major central banks will hold interest rates steady in their July policy meetings have offered some support to market sentiment. India's relative advantage under the revised US tariff framework further supported investor confidence. On the domestic front, improving monsoon conditions and moderately better Q1FY27 earnings have strengthened the growth outlook. Sectoral trends remained mixed, with IT stocks continuing to outperform, supported by attractive valuations," Vinod Nair, Head of Research, Geojit Investments said.
In Asian markets, South Korea's KOSPI tanked 10.84 per cent driven by fear of AI investment, which had even caused the bourse operator to activate the circuit breaker. Japan's Nikkei 225 index ended lower, while Hong Kong's Hang Seng index settled marginally higher, and Foreign institutional investors (FIIs) offloaded equities worth Rs 1,688.23 crore in the domestic market on Monday, as per PTI.
(With inputs from PTI)
