Indian equities closed lower for the eighth session in a row on Tuesday, September 30, as weak sentiment continued to weigh on Dalal Street amid a lack of fresh triggers, rising trade tensions, coupled with continued selling in select sectors, causing both benchmarks to witness their worst sustained fall in the last seven months.
Traders also remained cautious ahead of the RBI monetary policy meeting, scheduled for October 1, and the US jobs data on October 3. The Nifty 50 finished the session 0.01% lower at 24,611, while the S&P BSE Sensex also lost 0.12% to settle at 80,267.
The broader markets, however, closed mixed, with the Nifty Midcap 100 dropping 0.01%, while the Nifty Smallcap 100 index closed with a mild gain of 0.08%.
Sector-wise, Nifty Media led the losses, falling 1.23%, followed by Nifty Consumer Durables and Nifty Realty, which declined 0.87% and 0.82%, respectively. Nifty IT also fell marginally by 0.11%.
On the winning side, Nifty PSU Bank stood as the top performer, with a rally of 1.84%, followed by Nifty Metal and Nifty Auto, which soared 1.16% and 0.40%, respectively.
For the month, Nifty closed with a modest gain of 0.75%, and the Sensex closed 0.57% higher, with both snapping their 2-month losing streak.
September’s market saw two contrasting halves, early optimism from GST rate cuts, the US Fed’s rate cut, and revived trade talks quickly gave way to caution after Trump’s $100,000 H-1B visa fee hike and 100% tariffs on pharma imports.
The twin shocks battered IT and pharma stocks, wiping out initial gains and deepening the sell-off.
