The Nifty futures lost 0.91% to close negative at the level of 14,551. On the shares front, Bank of Baroda, GAIL, Marico, SRF, Bharat Forge, HPCL, ONGC NSE 1.81%, MGL, Bajaj Finance, and Vedanta saw a spurt in a trade setup, but Tata Chemicals NSE-9.53%, Tata Consumers, Weak Jubilant FoodWorks NSE -3.76%, Cipla NSE -3.49%, M&M Financial, RIL NSE -2.17%, HDFC, Biocon, MRF, Titan, and ITC.
The Nifty opened positive on Tuesday and remained limited for the first part of the session. However, weakness declined during the second half and the index peaked at 14,461. Technically, it created a bearish candlestick on the daily time frame chart and erased the previous session’s recovery.
The bank opened with a Nifty gain, and even though it was in positive territory in the early hours of trading, the second half pulled the index and crossed the 32,200 level. Despite such weakness, banking stocks outperformed the broader market and the index settled the session with a loss of nearly 200 points.
Asian shares merged after the removal of shares of strong corporate income and economic data on Wall Street.
Hong Kong and Sydney advanced while Seoul declined. Tokyo and Shanghai were closed for the holidays.
On Monday, a positive income report and a strong dose of economic data have shown the US economy is boosting the S&P 500 by 0.3%. US futures were lower on Tuesday.
Hong Kong’s Hang Seng rose 0.4% to 28,475.47 and the S & P / ASX 200 rose 0.3% to 7,048.70. Cospi fell 0.4% to close at 3,116.61 in Seoul. Shares rose in Jakarta but fell in Taiwan, Singapore, and Malaysia.
The yield slipped to 1.60% on a 10-year US Treasury note from 1.65% late on Friday.
US benchmark crude oil rose 5 cents to $ 64.54 a barrel on the New York Mercantile Exchange. It rose 91 cents to $ 64.49 a barrel on Monday. Internationally, Brent crude rose 5 cents to $ 67.61 a barrel.
The US dollar rose from 109.09 yen to 109.23 Japanese yen late on Monday night. The euro slipped from $ 1.2066 to $ 1.2046.