ET Market Watch: Sensex Ends Flat as Banks Drag, Nifty Holds 25,100
Transcript
D-Street hit the pause button today! The Sensex slipped 53 points, closing at 82,391, while the Nifty managed to hold above 25,100 — up just 1 point!
Why flat?
Banking stocks dragged the mood down despite global optimism and RBI policy support.
HDFC Bank and ICICI Bank cooled off after a 4-day rally — both down nearly 0.6–0.8%.
But tech saved the day!
Nifty IT jumped 1.7% — thanks to hopes of a U.S.-China trade thaw.
Top gainers? Tech Mahindra, Infosys, HCL Tech – all up over 1–2%.
Big movers:
• RattanIndia Enterprises +19%
• Reliance Power +10%
• Adani Power +5%
However, real estate slipped: Prestige, DLF, Lodha — all fell 1–3%.
Globally?
Markets are cautiously optimistic as U.S.-China trade talks extend into a second day.
Fed rate cut bets are cooling. Traders broadly expect the Federal Reserve to hold rates steady at its policy meeting next week, with markets pricing in just 44 basis points of rate cuts by December.
The Indian rupee closed at 85.6025 against the U.S. dollar on Tuesday, nearly unchanged from its previous close of 85.62, mirroring muted moves in most Asian currencies.
Oil prices edged higher on Tuesday, supported by optimism around ongoing U.S.-China trade talks and expectations of a slight dip in Saudi Arabia's crude exports to China.
Brent crude futures rose 16 cents to $67.20 a barrel while U.S. West Texas Intermediate (WTI) crude gained 14 cents, or 0.2%, to trade at $65.43.
Stay tuned. It's a wait-and-watch week — especially for Fed policy next week.
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