The Indian market ended lower on Tuesday, with the Nifty slipping into the red and the Sensex closing flat, as a post-earnings surge in Zomato-parent Eternal and sustained strength in financial stocks were outweighed by declines in Reliance Industries and weakness across the IT sector.
The Sensex eased 13.53 points, or 0.02%, to settle at 82,186.81, while the Nifty slipped 29.80 points, or 0.12%, to close at 25,060.90.
Here’s how analysts read the market pulse:Markets remained range-bound and ended almost flat, indicating a pause amid mixed signals, said Ajit Mishra, SVP, Research, Religare Broking, adding that “after an initial uptick, the Nifty gradually drifted lower in the first half, followed by a sideways move until the close.”
“The market continues to lack clear direction amid mixed earnings announcements and muted global cues. We maintain a cautious stance until the Nifty decisively reclaims the 25,250 mark, while immediate support is seen at 24,900. Meanwhile, traders should adopt a hedged approach and focus on fundamentally strong counters, with an emphasis on earnings performance,” said Mishra.
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US marketsWall Street struggled for direction on Tuesday as investors weighed signs of progress in U.S. trade talks and perused a spate of second-quarter company earnings, some of which showed a hit from President Donald Trump’s tariff policies.
Tariffs have started to take a bite out of Wall Street giants. General Motors saw its second-quarter profit skid 32% to $3 billion, with the automaker blaming hefty tariff costs for carving out $1.1 billion from its results. The company’s shares lost 6.5%, while peer Ford also dipped 1.4%.
The Nasdaq was pressured by falling megacap stocks on Tuesday, a day before major tech results are due, while investors assessed a spate of second-quarter corporate earnings and watched for signs of progress in U.S. trade discussions.
Heavyweight tech names were the biggest losers. Amazon fell 1%, Meta Platforms shed 1.1%, Nvidia was down 1.6% and Broadcom lost 2.3%.European stocksEuropean shares settled lower on Tuesday, with German equities logging their biggest one-day drop in two months as a batch of disappointing corporate reports and dimming prospects of a U.S.-European Union trade deal weighed on sentiment.
The pan-European STOXX 600 index closed 0.46% lower, with Germany’s DAX logging a 1.1% drop, easing further from a recent record high.
This earnings season is especially of interest for investors as they look for clues on how trade uncertainty and the euro’s recent surge are impacting European export-heavy corporates.
Latest earnings forecasts showed the outlook for European corporate health has slightly improved, although they are still expected to drop 0.3% on average, according to data compiled by LSEG. A year ago, STOXX 600 companies on average delivered a 3.0% increase in second-quarter earnings.
Tech ViewThe Nifty has remained mostly range-bound, facing resistance at the 21-EMA during the initial trades, said Rupak De, Senior Technical Analyst at LKP Securities, adding that on the hourly chart, the index failed to move above the 50-EMA.
“Overall, consolidation may continue in the coming days, as the index is not showing any signs of a breakout from the current trading zone. On the lower end, 24,900 continues to act as strong support, while resistance is placed at 25,260 — a breakout above which could lead to increased strength in the market,” said De.
Most active stocks in terms of turnoverEternal (Rs 8,111 crore), Swiggy (Rs 3,408 crore), 360 One Wam (Rs 3,264 crore), Reliance Industries Ltd (Rs 2,890 crore), HDFC Bank (Rs 1,490 crore), Infosys (Rs 1,334 crore) and ICICI Bank (Rs 1,317 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.Most active stocks in volume termsVodafone Idea (Traded shares: 31.64 crore), Eternal (Traded shares: 26.93 crore), JP Power (Traded shares: 8.55 crore), Swiggy (Traded shares: 8.22 crore), YES Bank (Traded shares: 5.64 crore), Ola Electric Mobility (Traded shares: 4.40 crore) and Canara Bank (Traded shares: 4.23 crore) were among the most actively traded stocks in volume terms on NSE.Stocks showing buying interestShares of Eternal, India Cements, Orient Refractories, Swiggy, Emcure Pharmaceuticals, Gujarat Mineral Development and NLC India were among the stocks that witnessed strong buying interest from market participants.
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52 Week highOver 150 stocks hit their 52 week highs today while 33 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included ICICI Bank, Eternal and Mahindra & Mahindra.Stocks seeing selling pressureStocks which witnessed significant selling pressure were 360 One Wam,Zee Entertainment, Aarti Industries, Raymond Lifestyle, Zensar Tech, Trident Ltd ad Au Small Finance Bank.Sentiment meter bearishThe market sentiments were bearish. Out of the 4,198 stocks that traded on the BSE on Tuesday, 2,300 stocks witnessed declines, 1,728 saw advances, while 170 stocks remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)