Mumbai– Indian equity benchmarks finished lower on Tuesday as traders reacted to the monthly expiry of Nifty futures and options contracts for the November series.
The Sensex closed at 84,587.01, down 313.7 points or 0.37 percent. The Nifty also slipped, ending 74.7 points lower at 25,884.8, a decline of 0.29 percent.
Analysts noted that for the weekly options set to expire on December 2, heavy call buildup was seen at the 26,000 and 26,200 strike prices, while significant put additions were observed at 26,000 and 25,500.
Trent, Tata Motors PV, HCLTech, Infosys and Power Grid were the top laggards on the Sensex. Bharat Electronics Ltd., State Bank of India, Tata Steel and Eternal led the gainers.
Sector performance was mixed. The Nifty Realty index advanced 1.62 percent, making it the day’s best-performing sector, while Nifty PSU Bank rose 1.44 percent. Nifty IT declined 0.57 percent and Nifty Media fell 0.80 percent.
Broader markets outperformed the frontline indices. The Nifty Midcap 100 rose 0.36 percent and the Nifty Smallcap 100 gained 0.19 percent, showing continued interest in mid- and small-cap counters.
Market specialists said expiration-linked volatility and profit taking pressured the benchmarks, even as select pockets saw renewed buying ahead of December sessions.
Caution persisted as investors awaited clarity on a potential rate cut at the upcoming FOMC meeting and progress on the Indo-U.S. trade agreement, analysts added. They said selling pressure remains evident near the 26,000 level, though downside risk appears limited amid strong domestic fundamentals and a solid second-half earnings outlook.
PSU banks and real estate stocks benefited from rising home loan demand and expanding market share for public-sector lenders, according to analysts. (Source: IANS)
