Indian Stock Markets Plunge Amid Global Uncertainties

The Indian stock markets witnessed another day of declines due to persistent foreign investor selling. Key indices such as Nifty 50 and BSE Sensex opened significantly lower. Upcoming global events, including the U.S. elections and Federal Reserve meeting, are expected to drive more market volatility.

Indian stock markets continued their downward trajectory on Tuesday, reflecting persistent selling pressure from foreign investors. The Nifty 50 index dropped by 78 points, opening at 23,916.50, while the BSE Sensex fell by 240 points, starting the day at 78,542.16.

Financial experts have cautioned that the market may see further fluctuations throughout the week, driven by major global events. These include the U.S. elections and the Federal Reserve's meeting, with Ajay Bagga, a noted Banking and Market Expert, advising investors to tread carefully. Bagga emphasized the challenges posed by an unpredictable electoral climate in the U.S., a potential FOMC rate cut announcement, and geopolitical tensions.

On the National Stock Exchange, sectoral indices were predominantly in the red, with Nifty Metal as the sole exception. Significant declines were noted in Nifty Media and Nifty Oil and Gas. In the Nifty 50 index, 13 stocks saw gains at the opening, contrasted by 32 declines. HCL Tech, Tata Steel, and Dr. Reddy's were among the top gainers, whereas BPCL, Power Grid, Titan, and BEL emerged as top losers.

Key companies like Titan Company and GAIL India are set to reveal their quarterly results. Meanwhile, Japan's Nikkei saw an uptick, gaining over 1 percent, while other Asian markets remained steady. Notably, Hong Kong's Hang Seng index rose by 0.47 percent, Taiwan's market increased by 0.27 percent, and South Korea's KOSPI index declined slightly by 0.30 percent.

(With inputs from agencies.)