Indian Equities Fall on Tuesday on Potential Delay in Rate Cuts

MT Newswires Live10-15

Indian indices settled lower on Tuesday, dragged mainly by auto, metal, and pharmaceutical stocks.

September data showing inflation rose to a nine-month high also dampened investor sentiment as this could push domestic rate cuts to 2025 instead of December this year.

At close, the BSE Sensex fell 152.93, or 0.2%, to 81,820.12, while the NSE Nifty 50 slipped 70.60 points, or 0.3%, to 25,057.35.

HDFC Life Insurance (NSE:HDFCLIFE, BOM:540777) topped the losers on Tuesday, with shares slumping 4%, followed by Bajaj Auto (NSE:BAJAJ-AUTO, BOM:532977) and Wipro (NSE:WIPRO, BOM:507685).

Conversely, Bharat Petroleum (NSE:BPCL, BOM:500547), ICICI Bank (NSE:ICICIBANK, BOM:532174) and Britannia Industries (NSE:BRITANNIA, BOM:500825) were the top gainers.

In corporate news, APL Apollo Tubes (NSE:APLAPOLLO, BOM:533758) has raised 1 billion Indian rupees from the issue of commercial papers.

Meanwhile, BEML (NSE:BEML, BOM:500048) has bagged a contract worth 8.67 billion Indian rupees from Integral Coach Factory (ICF), Chennai.

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