Indian Shares End Lower On Weak Global Cues
(RTTNews) - Indian shares closed lower on Tuesday, mirroring weak cues from global markets as investors braced for the delayed September U.S. jobs data and earnings from Nvidia.
The benchmark BSE Sensex ended down 277.93 points, or 0.33 percent, at 84,673.02 while the broader NSE Nifty index fell 103.40 points, or 0.40 percent, to 25,910.05.
In its latest India strategy report, Morgan Stanley said the Indian stock market will regain its mojo in 2026 after delivering its worst relative performance to emerging markets (EM) in 31 years.
The global brokerage firm has set a bull-case Sensex target of 107,000 by December 2026, and a base-case target of 95,000.
The BSE mid-cap and small-cap indexes dropped 0.7 percent and 0.9 percent, respectively.
The market breadth was weak on the BSE, with 2,738 shares falling while 1,465 shares rose and 138 shares closed unchanged.
Adani Ports, Eternal, Bajaj FinServ, Bajaj Finance, Infosys and Tech Mahindra fell 1-2 percent while Bharti Airtel climbed 1.8 percent and Axis Bank added 1.3 percent.
Paytm tumbled 2.9 percent after as many as 1.32 crore shares of the company changed hands in a block deal. Likewise, Emcure Pharma lost 2.5 percent amid large trades.
Globally, Asian and European markets followed Wall Street lower on concerns about the U.S. economic outlook.
Gold extended losses for a fourth straight session amid diminished expectations of a U.S. interest rate cut next month. Oil edged lower as investors weighed the impact from an emerging global surplus against U.S. sanctions on Russia.
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