Sensex, Nifty end lower as investors eye key data, RBI policy decision
The S&P BSE Sensex ended 106.98 points lower at 65,846.50, while the NSE Nifty 50 settled 26.45 points lower at 19,570.85.
In Short
- Sensex closes 106.98 points lower, Nifty settles 26.45 points down
- Nifty Metal drops over 1% due to Hindalco's share decline
- Analysts predict market correction after months of gains, global market impact
Benchmark stock market indices ended lower on Tuesday as investors remained cautious ahead of key US inflation data and the Reserve Bank of India’s monetary policy decision.
The S&P BSE Sensex ended 106.98 points lower at 65,846.50, while the NSE Nifty 50 settled 26.45 points lower at 19,570.85.
Broader market indices also fell in the wake of increased volatility due to nervousness among investors.
Among sectoral indices, Nifty Metal dropped by over 1 per cent due to a decline in shares of Hindalco Industries.
On the other hand, Nifty Bank and Nifty Financial Services registered gains at the end of the trading session.
The top five gainers on the Nifty 50 were SBI Life, Hero MotoCorps, Cipla, Tech Mahindra and Wipro. On the other hand, the top losers were Adani Enterprises, Hindalco, M&M, Divi’s Laboratories and JSW Steel.
According to analysts, markets were due for a correction given their elevated levels after gaining for the past few months. They added that the weakness in global markets, especially the US and China, has been the key trigger behind the volatility seen in the domestic markets.
Moreover, the upcoming US inflation data and RBI's policy decision have made investors on Dalal Street nervous. Whether the markets will be able to regain momentum will largely depend on these factors along with remaining Q1 results.
