Nifty, Sensex end the day in red, amid market-wide declines

Indian equity markets saw a day in red today. Nifty 50 closed the day today, down by 155.75 points or 0.60%. Sensex closed the day, down by 465.75 points or 0.55%. There was market-wide decline seen today. All the broad-market indices ended the day in red. Large cap stocks saw selling pressure. Nifty 100 index ended the day, down by 0.56%.

PSU stocks gained today

Market expectation of volatility increased today. Nifty VIX index increased by 0.97%. Nifty PSU Bank index and Nifty Oil & Gas index were the only two to end in green, among the sectoral indices. Nifty PSU Bank index ended the day, up by 1.56%. Nifty Oil & Gas index, ended the day, up by 0.07%. Stocks of a number of PSU banks gained today. Canara Bank shares gained 2.86%. Union Bank shares closed the day, up by 4.24%.

Among sectoral indices, Nifty Media index was the top loser today. It ended the day, down by 1.32%. Zee Entertainment shares ended the day, down by 1.47% at Rs 100.40. Nifty Midsmall IT & Telecom index also ended the day, down by 1.11%.

Advance-to-decline ratio of 0.70

1266 stocks gained at NSE today. 1805 stocks declined. Market breadth was therefore negative. Advance-to-decline ratio was 0.70. 73 stocks touched 52-week high at NSE today. 49 stocks touched 52-week low.

Indian markets await more eagerly the announcement of a trade deal with US

After US reduced tariffs on China to 47% yesterday, Indian equity markets are awaiting more eagerly the announcement of a formal trade deal with US, that reduces tariffs on Indian goods. The impact of higher US tariffs has started showing in the performance of some Indian companies. ITC’s revenues declined in the September quarter because of decline in its agri exports to US. Meanwhile, India and US have announced signing of a 10-year defense pact.

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Source: NSE