CHENNAI: Indian stock markets ended slightly lower on Tuesday, October 28, after a volatile session marked by alternating bouts of buying and profit-taking. The benchmarks pared some early losses but failed to sustain gains as weakness in realty, IT, and financial counters offset strength in metal and public-sector bank stocks.
The BSE Sensex closed at around 84,628, down 151 points or 0.18 per cent, while the NSE Nifty 50 settled at 25,936, slipping about 30 points or 0.11 per cent. The broader market indices were largely unchanged, with mid-cap and small-cap shares trading flat.
Buying interest in metal shares provided some cushion to the indices, led by gains in Tata Steel and other sector heavyweights. The Nifty Metal index advanced over 1 percent, supported by a pickup in global metal prices and optimism about Chinese demand. Public-sector banks also attracted buying after reports that the government may raise the foreign investment cap in state-run lenders to 49 percent.
However, profit-booking weighed on other major sectors. Realty and IT shares were among the top laggards, while consumer durables and select financial stocks also saw selling pressure. The realty index declined the most, reflecting investor caution after a recent rally.
Market sentiment was underpinned by mixed global cues. Hopes of progress in US–China trade negotiations and expectations of an interest rate cut by the US Federal Reserve provided some support, though concerns about high domestic valuations limited risk appetite.
Technically, the Nifty 50 found support near 25,800, while resistance is seen around the 26,000 mark. Analysts said a sustained break above this level could signal further upside, but a drop below the support zone might trigger a short-term correction.
Overall, traders remained cautious ahead of upcoming global and domestic economic data releases. Despite hovering near record highs, market participation stayed narrow, suggesting that investors are waiting for fresh triggers to drive the next leg of the rally.