The major benchmark S&P BSE Sensex and Nifty50 indexes were down throughout the whole trading day on Tuesday due to uncertainty in the international markets. Auto, IT, and metal counters were the worst performers, except for the Nifty Realty index.
The 30-pack BSE main index traded between 53,825 and 54,236 points during the day before closing 509 points, or 0.9%, lower at 53,887. While this was happening, the Nifty50 closed at 16,058, down 158 points or 0.97 percent. 16,159 and 16,031 were its high and low points, respectively.
Eicher Motors, Infosys, Hindalco, BPCL, Britannia, Nestle, Power Grid, Grasim, HUL, HCL Tech, Titan, and M&M all contributed to the benchmarks' decline. These stocks all had declines of 1.5% to 3%.
On the plus side, only NTPC, Adani Ports, Bharti Airtel, Coal India, Hero Moto, and Bajaj Finance had increases of between 0.08 and 1.7%.
The BSE MidCap and SmallCap indices outperformed the benchmark indices in the larger markets despite only losing 0.5%.
After one-time settlement fees and transition costs were subtracted from the company's consolidated net profit, which decreased 42% to Rs 28.6 crore in the March quarter (Q4FY22), shares of Spandana Sphoorty fell 5% individually.
In addition, NMDC fell more than 4% after a fall in metal prices.
"Rate rise fears are back in focus in the global markets ahead of the announcement of CPI figures," according to Vinod Nair, head of research at Geojit Financial Services. Strong US job numbers and inflationary pressures would maintain the Fed on its current course of aggressive rate increases. Retail inflation in the United States is predicted to remain at the same levels as the prior month in June, coming in at 7.03 percent. Concerns about demand in light of an increase in viral infections in China caused crude to trade lower.
Tuesday saw a decline in Asian markets as a result of the possibility of further monetary policy tightening by central banks, China's resurgent COVID outbreak, and Europe's energy crisis. The euro was also just a hair away from parity with the safe-haven dollar at the time.
As investors awaited the US inflation data later this week, Tokyo equities opened lower on Tuesday, continuing Wall Street's declines in response to news of another Covid-19 rise in China. The broad Topix index was down 0.41 percent, or 7.77 points, at 1,906.89, while the benchmark Nikkei 225 index was down 0.47 percent, or 126.75 points, at 26,685.55 in early trade.
US equities fell on Monday as market investors entered a week-end packed with important inflation data and the unofficial start of the second quarter earnings season with caution due to a lack of catalysts. The Nasdaq Composite plummeted 262.71 points, or 2.26 percent, to 11,372.60 while the Dow Jones Industrial Average sank 164.31 points, or 0.52 percent, to 31,173.84 and the S&P 500 dropped 44.95 points, or 1.15 percent, to 3,854.43.