Domestic equity benchmark indices Nifty 50 and 30-share Sensex erased their morning gains to settle with losses for the October 8 session.
📊 Market Wrap | Sensex, Nifty End Lower Amid Global Uncertainty
Indian equities closed in the red on Tuesday, tracking weak global cues and profit booking in key sectors.
🔻 Sensex: Down 153.09 points (-0.19%) at 81,773.66
🔻 Nifty: Down 62.15 points (-0.25%) at 25,046.15
📈 Market Breadth:
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1,697 stocks advanced
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2,297 declined
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138 remained unchanged
🏢 Sectoral Overview
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IT stocks outperformed on resilient demand and attractive valuations.
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Auto, Banking, and FMCG witnessed profit-taking after recent gains.
🪙 Global Cues
“Heightened global uncertainties and the ongoing US government shutdown drove gold to a historical high, reflecting elevated risk aversion,”
— Vinod Nair, Head of Research, Geojit Financial Services
Investors now await the September FOMC minutes for cues on the US Fed’s policy stance. Going forward, domestic earnings, macroeconomic data, and the festive season demand outlook are expected to drive market sentiment.
📉 Technical View
“The 20-day SMA and the 25,050–24,950 zone will act as key support levels. As long as the market stays above these, the bullish bias is intact,”
— Shrikant Chouhan, Head of Equity Research, Kotak Securities
Resistance zones are seen at 25,200 and 25,275.
For day traders, buying on intraday dips and selling on rallies remains the preferred strategy.
🎯 Trade Setup:
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Buy Nifty: 25,000–24,950 range
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Target: 25,200
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Stop-loss: Below 24,900
⚠️ Disclaimer
The views expressed are those of the respective experts. Investors are advised to consult certified professionals before making investment decisions.
📆 #StockMarket #Sensex #Nifty #TradingStrategy #EquityMarket #TechnicalAnalysis #Investing #Moneycontrol #MarketUpdate
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