MUMBAI, India — Indian equity markets slipped on Tuesday as investors navigated volatility tied to the monthly expiry of Nifty futures and options contracts for the November series.
The Sensex fell 313.7 points, or 0.37 percent, to close at 84,587.01. The Nifty declined 74.7 points, or 0.29 percent, to end the day at 25,884.8.
Analysts said that ahead of the upcoming weekly expiry on December 2, call open interest largely increased at the 26,000 and 26,200 strike prices, while put additions were most notable at the 26,000 and 25,500 levels.
Among the major decliners on the Sensex were Trent, Tata Motors PV, HCLTech, Infosys and Power Grid. Bharat Electronics Ltd., State Bank of India, Tata Steel and Eternal were among the leading gainers.
Sector performance was mixed. Nifty Realty jumped 1.62 percent, making it the session’s strongest sector, while Nifty PSU Bank rose 1.44 percent. In contrast, Nifty IT fell 0.57 percent and Nifty Media declined 0.80 percent.
Broader markets showed greater resilience. The Nifty Midcap 100 gained 0.36 percent and the Nifty Smallcap 100 added 0.19 percent, signaling continued interest in mid- and small-cap segments.
Analysts said expiry-related volatility and profit booking pressured the benchmark indices, though select pockets continued to see fresh inflows heading into the December trading period.
They noted that investors remained cautious while awaiting clarity on a possible rate cut at the upcoming Fed meeting and progress on the India-U.S. trade agreement.
Analysts added that despite visible selling pressure near the 26,000 level, downside remains limited due to strong domestic fundamentals, including a favorable earnings outlook for the second half of the fiscal year.
They said PSU banks and real estate stocks benefited from a continued rebound in housing demand and rising market share for state-owned lenders. (Source: IANS)
