Indian shares recouped early losses to finish marginally lower on Tuesday after three days of gains.
China trade data disappointed and Fed rate worries returned to the fore, weighing on sentiment.
U.S. Treasury yields steadied after an overnight climb and oil prices fell sharply on easing Middle East fears, helping limit the downside in the broader market.
Crude oil prices fell about 2 percent in European trade on demand concerns and amid signs of an ease off in geopolitical tensions after Israel said it would consider “tactical little pauses” in fighting to allow the entry of aid or the exit of hostages from the Gaza Strip.
The benchmark S&P/BSE Sensex ended the session down 16.29 points, or 0.03 percent, at 64,942.40, after having hit a low of 64,638.10 earlier in the day.
The broader NSE Nifty index hit an intraday low of 19,329.10 before recovering some lost ground to settle 5.05 points lower at 19,406.70.
Reliance Industries, Divis Laboratories, JSW Steel, Bajaj Finance and Hero MotoCorp all fell about 1 percent in the Nifty pack while IndusInd Bank, Dr Reddy’s Laboratories, NTPC, BPCL and Sun Pharma rallied 1-2 percent.
Tata-owned retailer and hypermarket operator Trent soared 9.7 percent after it reported nearly three-fold jump in Q2 profit.
Market Analysis
Sensex, Nifty End Off Day’s Lows As Oil Prices Fall On Demand Woes
2023-11-07 10:25:35
