Indian stock indices closed largely steady on Tuesday, snapping the uptrend they witnessed for the past two sessions.
The recent jump, barring today, helped indices recover some of the recent losses. Indices gained nearly 4 per cent over the past couple of sessions.
Sensex closed at 80,004
Keeping the early gains intact, stock indices in India closed with handsome gains on Monday. In the process, it made a good start to the new week and helped regain some of the recent losses.
The Indian stock markets will react to the recently announced election outcomes of the states and domestic macroeconomic data, Foreign Institutional fund flows, and Monetory policy review meeting of Reserve Bank of India's (RBI) in the first week of December, according to the market analyst
The domestic stock markets, in coming week, will focus their attention back to the Foreign Institutional Investment (FIIs) selling, global cues and domestic developments such as earnings of the companies and winter session of the Parliament, say analysts.
Indian equity indices, the BSE Sensex and NSE Nifty50, both ended in the red on Tuesday, due to the losses in banking, Auto, and financial sector stocks.
Among Nifty-listed companies, 19 stocks advanced, 30 declined, and 1 remained unchanged. Power Grid, Trent, HCL Technologies, Infosys, and Tech Mahindra led the gains, while Asian Paints, Britannia, Apollo Hospitals, Cipla, and ONGC registered significant losses.
With the much-closely-watched US elections over, the Indian stock market's focus will return to domestic factors next week, such as foreign fund flows and the final phase of the Q2 earnings season.