City
Epaper

Profit bookings, subdued global cues dampen equities; metal stocks fall

By IANS | Updated: November 2, 2021 19:35 IST

Mumbai, Nov 2 Profit bookings along with subdued global cues dampened both the key indices - S&P BSE ...

Open in App

Mumbai, Nov 2 Profit bookings along with subdued global cues dampened both the key indices - S&P BSE Sensex and NSE Nifty50 - of the India's equity market on Tuesday.

Globally, Asian stocks ended broadly lower on Tuesday eroding from opening levels as traders digested the latest coronavirus curbs in China and awaited key central bank decisions for clues on whether they could consider tightening monetary policy earlier than thought.

Besides, European markets were mixed ahead of a slew of Central Banks' meetings.

On the domestic front, low volumes on the auspicious occasion of Dhanteras kept the pressure on bulls.

Amongst sectors, realty and auto indices gained the most whereas metals index fell the most.

Consequently, the 30-scrip Sensex closed at 60,029.06 points, down 109.40 points or 0.18 per cent.

Besides, the NSE Nifty50 ended the day's trade at 17,888.95 points, lower by 40.70 points or 0.23 per cent.

"Nifty lost some steam on November 2 after the rise seen on November 1. Advance decline ratio remains positive as the broader markets keeps drawing investors interest," HDFC Securities' Retail Research Head Deepak Jasani.

"FPI activity seemed muted compared to that seen in the last few days, as 18,03 3-18,098 is the next band of resistance while 17,833 is the support."

According to Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services: "Domestic market opened positive but reversed its earlier gains in a volatile session amid mixed global cues."

"Given Diwali on Thursday, this week is a truncated one with all eyes awaiting the outcome of US Fed MPC which could provide direction to the future course of the market. Otherwise on the domestic front, earnings season so far has been mixed while macro data points have been robust - giving investor confidence with regard to economic recovery."

In addition, Vinod Nair, Head of Research at Geojit Financial Services said: "Succumbing to lacklustre global sentiments, domestic indices failed to gain ground oscillating between gains and losses in today's rough session. Global markets remain jittery ahead of the upcoming Bank of England and Fed meetings where the central banks could cease the pandemic-era stimulus."

"Metal, oil and commodity stocks dragged, fuelled by profit booking while realty, PSU bank and consumer durables made frail attempts at lifting the indices. Auto sector managed to remain buoyant despite weak auto sales numbers reported by sectoral majors due to supply chain disruptions, fuel price hikes and rise in input costs."

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: Standard & Poor'sDeepak jasaniSiddhartha khemkaindiansemumbaiIndiUk-indiaRepublic of indiaIndia indiaGia indiaIndia eu
Open in App

Related Stories

MumbaiMumbai Traffic Update: No Parking Zone Near Anjuman Islam School in Kurla From May 13 to August 12, Check Details Inside

NationalJammu on High Alert: CM Omar Abdullah Urges Citizens to Stay Indoors as Union Territory Faces Blackout Amid Attacks

MumbaiMumbai Horror: Man Molests Eight-Year-Old Girl, Shows Obscene Videos on Pretext of Giving Pizza In Tardeo

MaharashtraMaharashtra CM Devendra Fadnavis Reviews Security Measures, Issues Key Directives for State Preparedness (VIDEO)

MumbaiMumbai ATC Faces Heavy Load as International Flights Reroute Amid Pakistan Airspace Closure

International Realted Stories

InternationalCeasefire on India's terms: How Pakistan was forced on backfoot during Operation Sindoor

International"India, Pakistan Agree to Full & Immediate Ceasefire: Donald Trump Makes Major Announcement Amid Mounting Tensions

InternationalColonel Qureshi dismisses Islamabad's claims of strikes on Indian airbases; Wing Commander Singh says Pak's Skardu, Jacobabad hit hard

InternationalTaiwan slams China's 'United Front' tactics targeting indigenous peoples

InternationalIndia will continue to maintain firm, uncompromising stance against terrorism: Jaishankar