Daijiworld Media Network - New Delhi
Mumbai, Oct 28: Indian equity markets ended slightly lower on Tuesday after a choppy trading session, as investors indulged in profit booking across select sectors and turned cautious ahead of key economic data releases.
The Sensex fell 150.68 points (0.18%) to close at 84,628.16, while the Nifty 50 declined 29.85 points (0.11%) to settle at 25,936.20.
Market experts noted that the broader technical outlook remains positive, with the Nifty holding above its 21-day exponential moving average (21EMA) — a sign that the bullish bias is still intact.
“The RSI shows a bullish crossover and continues to stay in the high momentum zone. A decisive move above 26,000 could trigger a short-term rally,” analysts said, adding that resistance lies near 26,300, while support is placed around 25,850.
Within the Sensex pack, major laggards included Trent, Tech Mahindra, Bajaj Finserv, HCL Tech, Mahindra & Mahindra, and Bajaj Finance. Meanwhile, Tata Steel, Larsen & Toubro (L&T), State Bank of India, Tata Motors Passenger Vehicles, and Kotak Mahindra Bank were among the top gainers, helping limit broader losses.
In the broader market, performance was muted — the Nifty MidCap index slipped 0.02%, while the Nifty SmallCap index edged up by 0.02%.
Among sectors, Nifty Metal and Nifty PSU Bank outperformed, each gaining over 1%, buoyed by strong buying interest. On the downside, Nifty Realty emerged as the worst performer, followed by IT, Energy, Financial Services, FMCG, Pharma, and Consumer Durables, all closing in the red.
According to analysts, the decline came after a sustained rally in recent sessions, prompting profit taking and cautious positioning among traders.
“The market traded with volatility on monthly expiry day, ending flat as weak global cues and profit booking weighed on sentiment,” experts said.
They added that buying interest at lower levels reflected underlying investor confidence, supported by easing global trade tensions and expectations of stronger corporate earnings, which continue to reinforce domestic market resilience.