New Delhi, 27 October (H.S.): Indian equity markets witnessed intense volatility on Tuesday, the monthly expiry day for Nifty and Bank Nifty derivatives, as value buying and the expiry of derivative contracts pulled the benchmark indices in opposite directions. The Sensex fell more than 583 points from its intraday high, while the Nifty dropped over 190 points from its peak. However, late-session buying helped both indices recover sharply from their lows and close with only marginal losses.

The markets opened in negative territory amid weak global cues. During the first hour of trading, buying emerged at lower levels, helping the indices recover from their initial losses and climb into positive territory to touch their intraday highs. Selling pressure returned in the second half of the session, dragging both benchmarks to their lowest levels of the day.

Buying picked up again during the final hour, enabling the Sensex and Nifty to recoup much of their losses. The Sensex closed down 0.01 per cent, while the Nifty ended 0.02 per cent lower. Meanwhile, strong buying across the broader market lifted investors’ aggregate wealth by more than Rs. 3.33 lakh crore during the session.

The BSE Sensex opened at 73,484.38, down 122.37 points, or 0.17 per cent. Selling pressure soon pushed the index down by 395.99 points to 73,210.76. Buyers subsequently stepped in across several sectors, helping the benchmark recover steadily.

Supported by sustained buying, the Sensex moved into positive territory and climbed to an intraday high of 73,762.98, gaining 156.23 points, or 0.21 per cent.

The rally, however, proved short-lived. Selling pressure returned during the second half of the session, erasing the index’s gains and pushing it back into negative territory. The Sensex subsequently fell 583.57 points from its intraday high to reach 73,179.41, down 427.34 points, or 0.58 per cent.

Buying returned during the final hour, helping the index recover 419.26 points from its intraday low. The Sensex eventually settled at 73,598.67, registering a marginal decline of 8.08 points, or 0.01 per cent.

The NSE Nifty followed a similar trajectory, opening at 22,708.80, down 44.40 points, or 0.20 per cent. Selling immediately after the opening bell dragged the index down by around 100 points to an intraday low of 22,653.20.

Short covering and value buying subsequently strengthened market sentiment, allowing the index to recover steadily. The Nifty climbed to an intraday high of 22,829.75, gaining 76.55 points, or 0.34 per cent.

The recovery lost momentum during the second half of the session as renewed selling pressure pulled the index down 192.90 points from its intraday high. The Nifty touched 22,636.85, registering a decline of 116.35 points, or 0.51 per cent.

Late buying helped the index recover 112.90 points from its intraday low. The Nifty ultimately closed at 22,749.75, down 3.45 points, or 0.02 per cent.

### Pharma and auto stocks lead sectoral gains

Most sectoral indices ended in positive territory, with information technology and financial services among the exceptions.

The Nifty Bank index declined 0.72 per cent, while the Nifty IT index closed 0.26 per cent lower.

Pharmaceutical and automobile stocks attracted the strongest buying interest. The Nifty Pharma index advanced 1.91 per cent, while the Nifty Auto index gained 1.48 per cent. The Nifty Realty index also ended nearly 2 per cent higher.

The Nifty FMCG index rose 0.74 per cent, while the Nifty PSU Bank index gained 0.41 per cent.

The broader market displayed considerable strength throughout the session, with sustained buying supporting mid-cap and small-cap stocks. The Nifty Midcap 100 index advanced around 1 per cent, while the Nifty Smallcap index surged 2.69 per cent.

### Investors’ wealth increases by Rs. 3.33 lakh crore

Despite the marginal declines in the benchmark indices, gains across the broader market significantly increased investors’ overall wealth.

The combined market capitalisation of all companies listed on the BSE rose to Rs. 459.79 lakh crore at the close of trading, compared with Rs. 456.46 lakh crore on the previous trading day, Monday, October 26.

The increase of Rs. 3,33,421.01 crore translated into gains of approximately Rs. 3.33 lakh crore for stock market investors during the session.

### Market breadth remains positive

A total of 4,547 stocks were actively traded on the BSE. Of these, 2,946 advanced, 1,370 declined and 231 closed unchanged.

On the NSE, 3,255 stocks recorded active trading. Among them, 2,305 ended higher, while 950 closed lower.

Among the 30 constituents of the Sensex, 17 advanced, 12 declined and one remained unchanged. On the Nifty, 20 of the 50 constituent stocks closed in positive territory, while 30 ended lower.

### Tata Consumer Products leads gainers

Among the major stocks, Tata Consumer Products emerged as the top gainer, advancing 6.78 per cent. Bharti Airtel rose 3.20 per cent, BSE Ltd gained 2.44 per cent, Trent advanced 2.42 per cent and Max Healthcare climbed 1.20 per cent. These stocks featured among the session’s leading gainers.

On the losing side, Asian Paints declined 1.94 per cent, Coal India fell 1.73 per cent, Grasim Industries dropped 1.67 per cent, Adani Enterprises slipped 0.72 per cent and ITC edged down 0.19 per cent.

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Hindusthan Samachar / Jun Sarkar