MUMBAI: Indian stock markets ended flat on Tuesday, marking the third consecutive day of losses, as weakness in oil & gas and FMCG stocks offset gains in technology and financial sectors.
Global market trends and continued outflows from foreign institutional investors (FIIs) also dampened sentiment.
The BSE Sensex slipped by 33.49 points, or 0.04 per cent closing at 84,266.29. During the session, it touched a high of 84,648.40 and a low of 84,098.94.
Meanwhile, the NSE Nifty dropped 13.95 points, or 0.05 per cent to settle at 25,796.90.
FII outflows
Analysts attributed the subdued performance to muted global markets and heavy FII outflows, which weighed on investor confidence.
Among the 30 Sensex components, major laggards included IndusInd Bank, Asian Paints, Hindustan Unilever, Tata Motors, Tata Steel, Titan, Reliance Industries, and NTPC.
On the other hand, top gainers were Tech Mahindra, Mahindra & Mahindra, Kotak Mahindra Bank, Infosys, HCL Technologies, and State Bank of India.
Other Asian markets
In Asian markets, Tokyo closed higher, while markets in South Korea, Hong Kong, and mainland China were closed for a public holiday on Tuesday.
Mainland China markets will remain closed for the rest of the week due to the holiday period. European markets traded mixed, and US markets ended in positive territory on Monday.
FIIs sold equities worth Rs9,791.93 crore on Monday, while Domestic Institutional Investors (DIIs) purchased equities worth Rs6,645.80 crore, according to data from exchanges.
India’s manufacturing sector growth slowed to an eight-month low in September, as factory production, sales, and new export orders increased at a softer pace, according to a monthly survey.
PMI fell to 56.5 in Sept
The HSBC India Manufacturing Purchasing Managers’ Index (PMI) fell to 56.5 in September from 57.5 in August, indicating the slowest growth since January. A PMI reading above 50 indicates expansion, while a figure below 50 suggests contraction.
On the commodities front, Brent crude, the global oil benchmark, fell by 1.66%, settling at $70.51 per barrel.
On Monday, the BSE Sensex plunged by 1,272.07 points, or 1.49 per cent, to close at 84,299.78, after falling as much as 1,314.71 points during the session. The Nifty also dropped 368.10 points, or 1.41 per cent, to end at 25,810.85.
