Stock Market: Sensex Closes In Red Below 84,350 Mark; Nifty Settles Under 25,800

New Delhi: India’s domestic stock market indices Sensex and Nifty closed flat on Tuesday, October 01, 2024. The 30 constituent index closed the day’s trading session in red at 84,330.27  points while, the broader index settled  at 25,796.90  levels. Among the Sensex pack, stocks like IndusInd Bank, Asian Paints, HUL, Tata Steel, RIL, Titan, L&T, etc all closed in red. Mostly oil and gas and realty stocks were  the draggers.

Among the National Stock Exchange’s (NSE) thematic indices,  PSU Banks, realty and oil and gas, etc all closed in red.

Asian Stock Markets Bounce Back On Tuesday 

Japan’s stock market gauges bounce backed on Tuesday after plunging in the preceding trading session. Other Asian countries’ benchmark indices like that of Shanghai and even Hong Kong  continued to trade in positive  territory on Tuesday as well.  The former’s Central Bank ‘People’s Bank of China’ had earlier vowed to cut key policy interest rates last week. Ever since the announcements were made, China and Hong Kong’s benchmark indices have repeatedly shown buoyancy.

Last week,  the People’s Bank of China had vowed to cut key policy interest rates to give much needed stimulus to its falling economy. Central bank governor Pan Gongsheng  had said that the central bank would lower the Reserve Requirement Ratio (RRR) by 50 basis points and  seven days reverse repurchase rate by 20 bps from 1.50% to 1.30%. These moves were expected to infuse $142 billion worth of liquidity in their economy. According to stock market analysts, China’s latest measures have fuelled Asian stock markets.

While, on Tuesday, the global oil benchmark Brent Crude plunged 1.31% and traded  at $70.76  per barrel.

Earlier in the opening trade, India’s domestic stock market indices Sensex and Nifty had bounced back on Tuesday after causing mayhem on the Dalal Street in the preceding trading session.  On Monday, the US benchmark indices had closed flat.