Synopsis: After a strong start, Indian stock markets turned negative on Tuesday, with Sensex falling from early highs and Nifty slipping below 24,800. Ola shares dropped 5% amid sectoral pressure and global trade tensions.
Indian stock markets began Tuesday on a positive note but failed to hold gains by mid-session. The BSE Sensex, which opened 240 points higher at 81,614, reversed its early momentum and turned negative, while the Nifty 50 dropped below the 24,800 mark.
Broader markets saw a mild uptick with Nifty MidCap and SmallCap indices gaining 0.12% and 0.15%, respectively.
Sector Watch:
- Nifty Bank reached an all-time high of 56,161, surpassing its earlier peak of 56,098.70.
- IT, Metal, and Realty sectors gained between 0.3% and 0.5%.
- However, Private Banks lagged, with the Nifty Private Bank index falling by 0.3%.
- Ola shares took a hit, falling 5%, dragging sentiment in the broader startup and new-age tech space.
Global Cues:
Asian stocks mostly edged up, tracking Wall Street's gains overnight. However, growing global trade tensions are weighing on market sentiment:
- China hit back at US trade accusations, deepening concerns over the collapse of trade talks.
- The EU warned of retaliation over Trump’s proposal to hike steel tariffs to 50%, a move seen as threatening talks with Brussels.
Latest readings from global markets:
- Nikkei up 0.43%
- AX200 up 0.67%
- Topix and Kospi flat but positive
- South Korean markets closed for polling
Additional global data showed Australia posted a Current Account Deficit of AUD 14.7 billion in Q1 2025, while China’s Caixin Manufacturing PMI slipped to 48.3, signaling contraction.
US Market Recap (Monday):
- S&P 500: +0.41%
- Nasdaq Composite: +0.67%
- Dow Jones: +0.08%
The domestic markets may remain choppy ahead of global macro data and any developments in geopolitical tensions.
Disclaimer: Stock market investments are subject to market risks. This article is for informational purposes only and does not constitute financial advice. Please consult a certified financial advisor before making investment decisions.
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