"RSI on the daily chart is now placed at 36.01 level, indicating sell signal. If it Sustains below the 11,000 level, the Benchmark Nifty50 could further move downwards to 10,850. With no clarity about the relief measures on surcharge tax on FPI and stimulus for other sectors including auto, the Indian market may see further selling pressure with negative global markets," Romesh Tiwari, Head of Research, CapitalAim said.
"Retail inflation remains subdued with most of the components indicating not much variation compared to the earlier periods. But we need to make allowance for factors like a cheaper rupee, loss of crops due to heavy rains and the consequent effects on prices, while trying to judge the future inflation levels," Dr. Joseph Thomas, Head Research- Emkay Wealth Management told Moneycontrol.
Godrej Industries June quarter result: Company has posted 31 percent jump in its Q1FY20 consolidated net profit at Rs 103.4 crore against Rs 78.8 crore, revenue was down at Rs 2,845.1 crore versus Rs 2,951.3 crore.
Earnings before interest, tax, depreciation and amortization (EBITDA) was up 31 percent at Rs 289 crore, while margin was up 270 bps at 10.2 percent, YoY.
Kaveri Seeds Q1 result: Consolidated net profit was up 9.4 percent at Rs 230 crore against Rs 209.9 crore, while revenue was up 8.4 percent at Rs 627.6 crore against Rs 578.7 crore.
EBITDA was up 15.5 percent at Rs 236 crore and margin was at 37.6 percent.
Market close: After holding on the gains in the first half, the market gave up all its intraday gains in the second half and ended near day's low with Nifty finished below 10,950.
At close, the Sensex was down 623.75 points at 36,958.16, while Nifty was down 183.80 points at 10,925.90. About 870 shares have advanced, 1621 shares declined, and 144 shares are unchanged.
Yes Bank, M&M, UPL, Bajaj Finance and Bajaj Finserv were among major losers on the Nifty, while gainers were Indiabulls Housing, Reliance Industries, Sun Pharma, GAIL and Hindalco Industries.
Among sectors, except energy (up 1.9 percent), all other indices are ended in the red led by the infra (down 3.6 percent), auto (down 4 percent), PSU bank (down 2.6 percent) followed by metal, pharma, IT and FMCG. BSE Midcap index slipped 2.2 percent, while BSE smallcap index shed 1.4 percent.
Rupee at day's low: The Indian rupee is trading at day's low at 71.26 per dollar on Tuesday, down 36 paise from the previous close.