Ahead of Market: 10 things that will decide stock market action on Wednesday

Synopsis Sensex and Nifty fell as profit-booking, FII outflows and a weak rupee pressured markets. Analysts expect cautious sentiment amid no near-term RBI rate-cut hopes and persistent technical weakness. The Indian market ended lower on Tuesday, with the Sensex and Nifty retreating after briefly brushing record levels in the previous session, as investors locked in gains and foreign funds continued trimming exposure. A mix of profit-taking and external pressures kept the benchmarks under strain. The S&P BSE Sensex slipped 503.63 points, or 0.59%, to finish at 85,138.27, pulling back from Monday’s peak of 86,159.02. The NSE Nifty 50 dropped 143.55 points, or 0.55%, to 26,032.20. Both indices had surged to fresh 14-month highs on Monday, rising about 0.5% each, before late-session profit-taking dulled momentum and set a softer tone for Tuesday’s open. Here's how analysts read the market pulse: Domestic markets continued to witness profit-booking amid concerns over the weakening rupee and persistent FII outflows, said said Vinod Nair, Head of Research at Geojit Investments, adding that the NSE’s sectoral index reshuffle in line with Securities and Exchange Board of India regulations triggered corrections in major banking stocks. “In the near term, fading expectations of a Reserve Bank of India rate cut due to strong GDP data and uncertainty around US–India trade discussions may keep investors cautious. Still, robust domestic macro fundamentals and an improving earnings outlook for the second half of the fiscal year should provide support,” said Vinod Nair, Head of Research at Geojit Investments,” said Nair. Live Events Also read | 5 Wall Street moguls who dismissed Bitcoin as a fad — Guess what they’re saying now! US markets Wall Street stocks opened slightly higher on Tuesday after a day of losses, as traders looked ahead to the release of key economic data this week. Markets are awaiting Wednesday's monthly report on private-sector jobs, followed by the inflation figures for September on Friday. Expectations that the US Federal Reserve will lower borrowing costs next week have buoyed markets recently, helping them recover early November's losses driven by tech bubble fears. The US market was weighed down Monday by declines in some technology and crypto stocks. European Markets UK's FTSE 100 inched higher on Tuesday, lifted by financial stocks after the Bank of England eased capital requirements for lenders in a bid to boost growth, while industrial shares rebounded after suffering a sharp drop in the previous session. The blue-chip FTSE 100 rose 0.4% by 1119 GMT, while midcap FTSE 250 was flat, reversing course after it had the biggest single-day percentage drop in two weeks on Monday. At midday in Europe, Germany's DAX advanced 0.5%, while the CAC 40 in Paris added 0.2%. Britain's FTSE 100 was also up 0.2%. Tech View The Nifty witnessed another day of lackluster trading with a predominantly negative bias, said Rupak De, Senior Technical Analyst at LKP Securities, adding that on the hourly chart, the index continued to trade below the 21EMA. "A mild negative divergence on the daily chart has contributed to the recent weakness in momentum. On the hourly chart, a rising trendline offers immediate support; however, if Nifty slips below this trendline, a slide towards 25,900 may follow. On the other hand, resistance is placed at 26,150, and a move above this level could improve sentiment. Overall, a bearish to sideways sentiment may persist over the next few days," said De. Also read | Warren Buffett’s biggest investment isn’t Apple, BofA or Coca-Cola — it’s a stock hidden in plain sight Most active stocks in terms of turnover Bajaj Housing Finance (Rs 4,221 crore), HDFC Bank (Rs 2,705 crore), Wockhardt (Rs 2,403 crore), RIL (Rs 1,766 crore), ICICI Bank (Rs 1,667 crore), Bharti Airtel (Rs 1,386 crore) and SBI (Rs 1,308 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day. Most active stocks in volume terms Vodafone Idea (Traded shares: 64.9 crore), Bajaj Housing Finance (Traded shares: 43.95 crore), JP Power (Traded shares: 14.5 crore), YES Bank (Traded shares: 14 crore), Bank of Maharashtra (Traded shares: 10.85 crore), GMR Airports (Traded shares: 5.74 crore) and Canara Bank (Traded shares: 4.23 crore) were among the most actively traded stocks in volume terms on NSE. Stocks showing buying interest Shares of Balkrishna Industries, Akzo Nobel, Birlasoft, Schneider, Minda Corp, C.E. Info Systems and Natco Pharma were among the stocks that witnessed strong buying interest from market participants. Also read | Tata Motors Commercial Vehicles hits top gear on debut post demerger. Here are 7 takeaways from the listing 52 Week high Over 106 stocks hit their 52 week highs today while 249 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Canara Bank, Tata Motors CV and Asian Paints. Stocks seeing selling pressure Stocks which witnessed significant selling pressure were Advent Hotels International, Bajaj Housing Finance, GRSE, Welspun India, City Union Bank, Ather Energy and Saregama India. Sentiment meter bearish The market sentiments were bearish. Out of the 4,316 stocks that traded on the BSE on Tuesday, 2,677 stocks witnessed declines, 1,482 saw advances, while 157 stocks remained unchanged. Also read | Ola Electric vs Ather Energy shares: Which EV bet looks stronger for your portfolio right now? (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price ...moreless (You can now subscribe to our ETMarkets WhatsApp channel) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price ...moreless How a Sebi report reopened Indiabulls-YES Bank saga that was fading Why IPO bound cos have good financials, but falter after listing? From near collapse to INR50k cr value: The journey of MCX AI is forcing a rethink. 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