FINAL TRADE: Sensex ends 238 pts lower, Nifty settles at 19,080; auto, energy stocks decline

Stock market today: Domestic equity indices Sensex and Nifty closed lower on Tuesday, October 31, amid weakness in Asian stocks. High U.S. interest rates and oil prices, the Middle East conflict, and persistent selling by foreign investors dented investor sentiment.

At close, the S&P BSE Sensex was down 237.72 points, or 0.37 per cent, at 63,874.93, and the NSE Nifty was down 61.3 points, or 0.32 per cent, at 19,079.6.

"Nifty Reality was the sector which outperformed today up by 1.27 per cent while Nifty FMCG and Nifty PSU Bank were the two sectors that ended the day with marginal gains by 0.16 pet cent and 0.14 per cent respectively," said Vaibhav Vidwani, Research Analyst, BONANZA PORTFOLIO LTD.

In the Nifty basket, 24 stocks declined, with Sun Pharma, M&M, Eicher Motors, LTIMindtree, and ONGC being the top losers. Conversely, SBI Life, Titan, HDFC Life, Kotak Mahindra Bank, and Asian Paints were the top gainers for the day.

M&M, Sun Pharma, and Bharti Airtel were the top stocks that dragged the 30-scrip index.

The Nifty Mid Cap 100 settled in the green, whereas the Small Cap 100 closed flat.

On the sectoral front, Nifty Bank was down 0.45 per cent at 42,845.95.

TECHNICAL VIEW 

"On the daily charts, we can observe that Nifty has faced resistance at the 19160 – 19220 zone. Now until today’s high of 19234 is not taken out we can expect the nifty to trade with a negative bias. The hourly momentum indicator has triggered a negative crossover from above the equilibrium line indicating that the pullback has matured, and a new cycle has begun. The fall shall intensify once the low of 18940 is breached on the downside and should also be used as a stopples for the long positions. Overall, the pullback seems to have hit hurdles and now the next leg of the fall may resume," said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.

Further, Nifty Bank Gedia said the relief rally is likely to be over as the hourly momentum indicator has triggered a negative crossover from above the equilibrium line indicating that it has started a new cycle which can lead to a slide in the Bank Nifty till 42400 and below that till 42000.

BUZZING STOCKS 

Sterling Tools shares slipped over 6 per cent after it registered a decline in net profit.

Rainbow Children's Medicare shares were down over 6 per cent after posting Q2 results.

Siemens shares were down over 2 per cent after reports that Siemens Energy may sell a stake in Siemens India.

Conversely, Nippon Life India Asset Management shares were up over 5 per cent a day after the company posted good Q2 results.

Pidilite Industries shares were up over 6 per cent a day after its earnings call.

P&G Hygiene Health shares were up over 4 per cent a day after the company posted its Q2 results.

Mangalore Chemicals and Fertilizers shares ended over 6 per cent higher after the company reported strong results on all parameters.

GLOBAL MARKETS 

World shares were mixed on Tuesday and oil prices gained as investors awaited a decision by the US Federal Reserve on interest rates due on Wednesday. European markets advanced, while shares were mostly lower in Asia. US futures were mixed.

(With agency inputs)

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