FIRST TRADE: Sensex down over 300 pts; Nifty below 19,550; all indices in red
Stock market today: Last seen, the S&P BSE Sensex was down 170.27 points, or 0.26 per cent, at 65.658.14, and the NSE Nifty was down 0.36 per cent, or 70.6 points, at 19.567.7.
Stock market today: Domestic equities on Tuesday, October 3, opened lower, tracking weakness from the Asian peers on US rate concerns, while persistent selling by foreign investors also weighed on risk sentiment. All indices traded in red on the sectoral front.
Last seen, the S&P BSE Sensex was down 170.27 points, or 0.26 per cent, at 65.658.14, and the NSE Nifty was down 0.36 per cent, or 70.6 points, at 19.567.7.
In the broader market, the Nifty Mid Cap 100 traded in red, whereas the Small Cap 100 opened in positive territory.
Nifty Bank was down 0.48 per cent at 44,371.2.
"There are mixed cues for the October series, which historically has been a good month for markets. The major negative for the near term will continue to be the sustained FII selling, which touched Rs 26,689 crores in the cash market in September," said Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
He added that bullish DIIs and retail investors will lend support to the market. In the near term, these negative and positive factors can be expected to swing the market to and fro.
BUZZING STOCKS
ONGC shares were down over 3 per cent and Oil India stock was down over 2 per cent after the windfall tax was hiked.
Aurobindo Pharma shares were down over 3 per cent after the US Food and Drug Administration (USFDA) issued an objection with Form 483.
Nifty Bank traded 0.68 per cent lower ahead of the Reserve Bank of India's (RBI) three-day monetary policy meeting.
Ashok Leyland, TVS Motor, M&M, and Tube Investment of India traded between 0.06 per cent to 1.38 per cent on the upside, whereas Eicher Motors, Tata Motors, Bharat Forge, Hero MotoCorp, and Maruti Suzuki shares traded in the red, in reaction to their September sales numbers.
Conversely, Vedanta shares were up over 2 per cent after its board approved the demerger of its businesses.
Mahanagar Gas shares were over 3 per cent higher after CNG prices were cut.
Kalpataru Projects shares were up over 4 per cent after the company bagged new orders worth Rs 1,016 crore.
RVNL shares were up over 2 per cent after the company was declared the L1 bidder for a project worth Rs 1,098 crore.
Astra Microwave Products shares were up over 4 per cent after the company's joint venture company, Astra Rafael Comsys, got orders worth Rs 96.5 crore.
GLOBAL MARKETS
Asian shares fell on Tuesday after Federal Reserve officials cemented the view that U.S. interest rates are likely to remain elevated for some time, while the yen slid to near a one-year low, putting traders on watch for intervention from Japanese authorities.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.36 per cent to its lowest since November 28, 2022. Japan's Nikkei fell 1.5 per cent, while Hong Kong's Hang Seng Index (.HSI) was 1 per cent lower. Chinese markets were closed for the week because of the Golden Week Holiday.
(With agency inputs)
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