Benchmarks hit fresh intraday low; Europe opens in the green

The benchmark indices tumbled further and hit fresh intraday low in afternoon trade as continuous foreign fund outflows and geopolitical concerns weighed on sentiment despite easing crude oil prices. The Nifty traded below the 23,350 level.

At 13:25 IST, the barometer index, the S&P BSE Sensex declined 302.06 points or 0.40% to 74,556.93. The Nifty 50 index fell 82.10 points or 0.35% to 23,332.20.

In the broader market, the BSE 150 MidCap Index was trading flat while the BSE 250 SmallCap Index shed 0.20%.

The market breadth was almost even. On the BSE, 2,064 shares rose and 2,136 shares fell. A total of 245 shares were unchanged.

Gainers & Losers:

Coal India (up 3.15%), Dr Reddy's Lab (up 1.03%), Titan Company (up 0.99%), Eternal (up 0.94%) and Indigo (up 0.66%) were the top gainers.

Trent (down 1.80%), Cipla (down 1.43%), Bajaj Finance (down 1.42%), SBI (down 1.34%) and Infosys (down 1.31%) were the top losers.

Stocks in Spotlight:

RailTel Corporation of India added 0.98%. The company announced the receipt of a work order from Uttar Pradesh University Of Medical Sciences (UPUMS) worth Rs 14.09 crore.

Symbiotec Pharmalab fell 2.15%. The company has reported 52.8% fall in consolidated net profit to Rs 14.1 crore despite a 7% rise in revenue from operations to Rs 218.2 crore in Q1 FY27 as compared with Q1 FY26.

Puravankara added 0.70%. The company announced its entry into the Delhi-NCR real estate market with the allotment of a 13.44-acre land parcel in Greater Noida. The said land parcel has a saleable potential of nearly 4.57 million square feet and an estimated gross development value (GDV) of approximately Rs 5,200 crore.

Global Markets:

European equities edged higher on Tuesday, building on a sharp early-week rebound as softening crude oil prices and fresh diplomatic overtures in the Middle East bolstered risk sentiment, even as surging default insurance costs on French sovereign debt cast a shadow over Paris.

Meanwhile in Asia, stocks edged higher, taking cues from the strong overnight rally on Wall Street.

Overnight on Wall Street, US stocks ended sharply higher on Monday, with the Nasdaq Composite rising to a record closing high as investors returned to artificial intelligence-related stocks.

The Dow Jones Industrial Average rose 0.71% to 52,048.83, while the S&P 500 gained 1.49% to 7,764.70. The Nasdaq advanced 2.26% to 27,122.09.

Among major technology stocks, Nvidia rose 2.30%, AMD jumped 9.95%, Intel rallied 12.14%, Microsoft gained 1.59%, Amazon advanced 1.87%, Meta Platforms surged 11.43% and Apple rose 0.85%. Semiconductor stocks led the broader technology rally, with the Philadelphia Semiconductor Index gaining 4.29%.

Oil prices remained in focus after Brent crude fell 3.4% on Monday to around $100.34 a barrel. Brent was trading near $100.22 on Tuesday as investors assessed signs of easing supply disruptions and possible diplomatic engagement between the US and Iran.

Saudi Arabia has also increased crude shipments from its Gulf terminals following disruptions to its East-West pipeline.

US President Donald Trump said he was probably open to meeting Iranian President Masoud Pezeshkian during the United Nations General Assembly in New York this week. The possibility of direct talks has added to expectations of diplomatic efforts to ease tensions and reduce risks to regional energy supplies.

The Trump administration has also reportedly proposed investing $5 billion in a fund to help Middle Eastern countries rebuild energy infrastructure damaged during the Iran war and reduce their dependence on the Strait of Hormuz.

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