Closing Bell: Nifty slips below 24,800; markets end marginally lower

Stock market news: Benchmark indices S&P BSE Sensex and NSE Nifty 50 closed Tuesday amid selling pressure in banks, realty, and oil & gas sectors. A weak global momentum triggered by dampened hopes of another hefty interest rate cut by the Federal Reserve also negatively impacted investor enthusiasm.

At close, the 30-share BSE Sensex was trading 33.49 points lower at 84,266.29 and the broader NSE Nifty 50 index was trading 13.95 points lower at 25,796.90.

Market analysts attributed the subdued investor sentiment to global market trends and heavy foreign fund outflows. Foreign Institutional Investors (FIIs) offloaded shares worth Rs 9,791.93 crore on Monday, while Domestic Institutional Investors (DIIs) purchased equities valued at Rs 6,645.80 crore, according to exchange data.

Key laggards among the 30-share Sensex pack included IndusInd Bank, Asian Paints , Hindustan Unilever , Tata Motors, Tata Steel, Titan, Reliance Industries, and NTPC. On the flip side, Tech Mahindra , Mahindra & Mahindra, Kotak Mahindra Bank, Infosys , HCL Technologies, and State Bank of India were among the top gainers.

Global market cues were mixed, with Tokyo’s markets closing in positive territory, while South Korea, Hong Kong, and mainland China were closed for a public holiday. European markets displayed mixed trends, while US markets closed on a positive note on Monday.

In a separate development, India's manufacturing sector growth slowed to an eight-month low in September. The HSBC India Manufacturing Purchasing Managers' Index (PMI) fell to 56.5 in September, down from 57.5 in August, indicating a softer increase in factory production, sales, and new export orders. Despite the drop, the PMI remains in expansion territory, with any reading above 50 signaling growth.

Additionally, global oil prices saw a dip, with Brent crude falling by 1.66 per cent to USD 70.51 per barrel, further impacting market sentiment.

On Monday, the Sensex had experienced a sharp decline, tumbling by 1,272.07 points or 1.49 per cent to close at 84,299.78. The Nifty had similarly dropped 368.10 points or 1.41 per cent to settle at 25,810.85.