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Indian Markets Face Volatility Amidst Global Turmoil
18 Nov
Summary
- Sensex and Nifty closed lower on Tuesday due to derivatives expiry.
- Broader markets underperformed frontline indices significantly.
- Global markets experienced a downturn, impacting Indian sentiment.
Indian equity benchmarks concluded Tuesday's trading session with losses, primarily influenced by the weekly derivatives expiry and a cautious global sentiment. The S&P BSE Sensex shed 277.93 points, settling at 84,673.02, while the Nifty 50 index declined by 103.40 points to close at 25,910.05. Both major indices experienced downward pressure from significant IT and metal sector stocks, despite reports of progress in India-U.S. trade pact negotiations.
The broader market segments fared worse than the frontline indices, with the S&P BSE Mid-Cap index falling by 0.70% and the S&P BSE Small-Cap index tumbling by 0.85%. The market breadth also indicated weakness, as more stocks declined than advanced on the BSE. Concurrently, the India VIX, a measure of expected market volatility, saw an increase of 2.60%.
Global markets mirrored the cautious mood, with Dow Jones futures signaling a negative start for U.S. stocks. European indices declined amid renewed concerns over AI-linked stocks, and Asian markets also ended lower. Overnight, U.S. stocks fell due to weakness in technology shares, with Nvidia's upcoming earnings and the September jobs report creating investor apprehension.
