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Key Points

Indian equity indices ended Tuesday's session with minor losses as traders played it safe before the RBI's policy announcement. The Sensex dropped 97 points while Nifty fell nearly 24 points in range-bound trading. Market experts noted the indices faced resistance and showed bearish patterns despite attempts to stabilize. Investors are now focused on the RBI's guidance and upcoming earnings season for clearer market direction.

Key Points: Sensex Nifty Dip Slightly Ahead of RBI Monetary Policy Meeting

  • Sensex fell 97 points to close at 80,267 after breaking a seven-day losing streak
  • Nifty settled at 24,611 with selling pressure in heavyweights like ITC and Tech Mahindra
  • Market participants await RBI commentary for future interest rate trajectory insights
  • Sectoral performance was mixed with Auto and Bank indices gaining while FMCG declined
2 min read

Indian equity indices end slightly lower ahead of RBI's MPC outcome

Indian stock markets closed marginally lower as investors adopted a cautious stance before the RBI's MPC decision, with Sensex falling 97 points and Nifty down 24 points.

"The domestic market traded within a narrow range on the monthly expiry day, as investors exercised caution ahead of the RBI's policy. - Market Analysts"

Mumbai, Sep 30

The domestic equity indices ended the session slightly lower on Tuesday, trading range-bound amid investors showing a cautious approach ahead of the RBI monetary policy outcome.

Sensex ended the session at 80,267.62, down 97 points or 0.12 per cent. The 30-share index started the session in green at 80,541.77, breaking a seven-day losing streak, against last session's closing of 80,364.94. However, the index dragged in negative territory following selling in heavyweights like ITC and Tech Mahindra.

Nifty settled at 24,611.10, down 23.80 points or 0.10 per cent.

"The domestic market traded within a narrow range on the monthly expiry day, as investors exercised caution ahead of the RBI’s policy. The market attempted to stabilise after last week’s sustained decline," said analysts.

Market participants are keenly awaiting the RBI’s commentary for insights into future interest rate trajectories, although a status quo on rates is widely expected, he added.

Key developments, particularly regarding tariff policies and the upcoming earnings season, will be crucial in shaping the market’s trajectory beyond the current range.

Bharti Airtel, ITC, Trent, Bajaj FinServ, Titan, Reliance, Tech Mahindra, Reliance, and L&T ended the session lower. Adani Ports, Tata Motors, BEL, Bajaj FinServ, Hindustan Unilever, Sun Pharma, Mahindra and Mahindra, and Asian Paints closed in green.

The sectoral indices continued to experience a mixed approach for the second consecutive day this week. Nifty FMCG fell 235 points or 0.43 per cent, and Nifty IT slipped 37 points or 0.11 per cent. While Nifty Auto jumped 105 points or 0.40 per cent, Nifty Bank escalated 174 points or 0.32 per cent, and Nifty Fin Services settled 15 points higher.

The broader market followed suit as well. Nifty 100 fell 19 points, Nifty Midcap 100 closed flat, and Nifty Small Cap 100 jumped 14 points or 0.08 per cent.

"On the monthly expiry day, the Nifty index ended weak, facing stiff resistance near its 100-day EMA around the 24,750 zone. The index has been forming a lower highs–lower lows pattern for the past three sessions, highlighting strong bearish control. Unless Nifty reclaims and sustains above its 50-day EMA, the short-term outlook remains negative," said Vatsal Bhuva of LKP Securities.

- IANS

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Reader Comments

R
Rohit P
ITC and Tech Mahindra dragging the Sensex down again! These heavyweight stocks need to recover for any meaningful rally. My portfolio is bleeding since last week 😔
A
Arjun K
Good to see Auto and Banking sectors performing well despite the overall weakness. Tata Motors and Bajaj FinServ showing strength. This market rotation is interesting!
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Sarah B
As an NRI investor, I find these minor fluctuations quite normal. The Indian market fundamentals remain strong. The real test will be the earnings season next month.
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Vikram M
The lower highs-lower lows pattern is concerning. Technical analysis suggests we might see more correction unless Nifty breaks above 24,750. Better to wait and watch for now.
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Michael C
While the analysis is good, I wish financial journalists would explain these technical terms like EMA and resistance levels more clearly for retail investors like me.
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Ananya R
Small cap index in green is a positive sign! Retail investors often find better opportunities in small caps during such range-bound markets. Time to do some research 📈

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