Market Wrap, Oct 14: NIFTY50 ends at 25,145, SENSEX drops 297 points on weak global cues; Dr.Reddy’s, Tata Steel top losers

The Indian stock market extended its decline for the second straight session on Tuesday, October 14, amid weakness in PSU bank, metal, and consumer stocks. Investors' sentiment was further dampened by weak global cues.

According to exchange data, on Monday, the foreign institutional investors (FIIs) sold equities worth ₹240.10 crore on a net basis, while the domestic institutional investors (DIIs) purchased ₹2,333.42 crore worth of equities.

On the global front, Asian markets settled lower on Tuesday amid escalating tariff concerns, while Tokyo equities came under pressure due to ongoing political uncertainty in Japan.

Japan's Nikkei index dropped 3.03% to 46,673, while Hong Kong's Hang Seng fell 1.81%. The Shanghai Composite and South Korea's KOSPI also declined 0.63% and 0.64%, respectively.

On Wall Street, key stock indices rose sharply on Monday after President Donald Trump’s conciliatory comments on US-China trade tensions eased investor worries. S&P 500 closed 1.56% higher, while Nasdaq soared 2.21%, and Dow Jones also advanced 1.29%.

As many as 3,197 stocks traded on the NSE on Tuesday. Out of this, 836 advanced and 2,266 declined, while 95 scrips remained unchanged.

This, however, indicates that the market breadth favoured declines.

A total of 90 stocks hit their 52-week highs, while 115 stocks touched their one-year lows. Besides, 67 stocks hit their upper circuit limits, and 37 touched their lower circuit bands on Tuesday.

NSE-listed firms' market capitalisation stood at ₹457.26 lakh crore at the end of the session.

The volatility index India VIX rose 1.33% to close at 11.16 levels.

The NIFTY Midcap 100 index slid 0.75%, ending at 58,324.40 levels, while the NIFTY Smallcap 100 gauge settled 0.89% lower at 17,940.15 levels.

All sectoral indices ended the session in the red, with Nifty PSU Bank leading the decline, down 1.52%. Nifty Consumer Durables (-1.08%), Nifty Media (-1.03%), Nifty Metal (-0.99%) and Nifty Realty (-0.94%) were the other laggards.

On Tuesday, 40 stocks declined on the NIFTY50 index, while 10 settled in green and one remained unchanged.

Dr.Reddy’s took the lead among losers, shedding 2.17%, followed by Tata Steel (-2.14%), Bajaj Finance (-1.9%), Bharat Electronics (-1.77%) and Trent (-1.66%).

On the flip side, Max Healthcare (1.42%), Tech Mahindra (1.24%), Wipro (1.09%), Apollo Hospitals (1.06%) and Bajaj Auto (0.39%) were the top gainers on the 50-share index.