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Sensex Today: Benchmark equity indices, the BSE Sensex and Nifty50, ended with gains on Tuesday. The 30-share Sensex advanced 90.88 points or 0.11 per cent to 83,079.66, while the NSE Nifty50 added 34.80 points or 0.14 per cent to settle at 25,418.55.
As many as 29 constituent stocks on the Nifty50 ended in the red, dragged by Tata Motors, Eicher Motors, Tata Steel, Coal India, and JSW Steel, with a fall of up to 1.36 per cent. Conversely, Hero MotoCorp, Bajaj Auto, Bharti Airtel, NTPC, and Mahindra were among the 21 Nifty50 stocks that ended higher, with gains of up to 3.25 per cent on Tuesday.
Market View by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Globally equity markets were flat yesterday signalling a wait-and-watch mood in anticipation of the Fed rate action tomorrow. The Fed rate action will depend on the incoming data and evolving outlook and, therefore, what the Fed chief Powell says will be crucial. Rate cuts are positive for markets and higher rate cuts are more positive.
Global Cues
Stocks in other asian markets wobbled on Tuesday while the dollar and US Treasury yields came under pressure, with just a day to go before the expected start of the Federal Reserve’s easing cycle that could see policymakers deliver an outsized rate cut.
Extended holidays in China and South Korea made for thin trading conditions, with investors focused on Wednesday’s Fed decision as odds have crept up in the past week in favour of a 50-basis-point rate cut.
Japan’s Nikkei fell 0.6 per cent, dragged by technology names as they tracked a decline on Wall Street.
US stock futures were mixed. S&P 500 futures and Nasdaq futures fell 0.12 per cent and 0.05 per cent, respectively, while EUROSTOXX 50 futures and FTSE futures tacked on more than 0.3 per cent each.
