Mumbai (Maharashtra) [India], June 3 (ANI): Indian stock indices ended lower on Tuesday, with both Sensex and Nifty 50 tumbling in red territory.
The benchmarks declined for the third consecutive session today.
Ajay Bagga, a banking and market expert, told ANI, “Fiscal worries, geopolitical tensions, and tariff uncertainty are the defining trends for global markets.”
He added that these factors are making markets very difficult to predict, with policy-related news becoming the main driver.
Observing the markets, VLA Ambala, Co-Founder of Stock Market Today, said, “Donald Trump’s tariff policies have led to a slowdown in both the US and global economies.”
“Trump’s policies and the slowing global economy have also affected India, impacting our GDP growth, export flow, and performance of small-cap companies. On technical charts, the Nifty 50 formed a bearish engulfing pattern on the daily time frame,” she added.
At the end of today’s session, BSE Sensex declined 636.24 points or 0.78 per cent, at 80,737.51, and the Nifty 50 at the National Stock Exchange (NSE) was down 174.10 points or 0.70 per cent, at 24,542.50.
The sectoral indices of banks, capital goods, consumer durables, IT, oil & gas, power, private bank, PSU banks declined between 0.5 and 1 per cent.
Among the gainers in indices, the Realty rose 1 per cent during the trading.
As per Ambala, 24,430 level of Nifty will be the key level to watch tomorrow and appear as a make-or-break point for the benchmark index.
Today, the index’s RSI stood at 50, and it plunged by 3.75% due to the lack of major market triggers.
“Nifty formed an engulfing bearish candle closing near its support of 24500 levels. The index has been very volatile today, as it started on a positive note while dropping to a day low near its support and then again bounced back from the support,” said Dr Praveen Dwarakanath, Vice President of Hedged in.
He added that the index is bouncing every time from the 24500 level, indicating strong support at the 24500 level.
Earlier, the Indian stock markets opened on a cautious but positive note on Tuesday, tracking mixed global cues amid rising concerns over tariffs, geopolitical tensions, and fiscal worries in the US economy. (ANI)
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