Tata Steel, JSW Steel, Hindalco, Bajaj Auto, and Axis Bank were among the top gainers on the Nifty index. Trent, Adani Ports, Asian Paints, ITC and Infosys were among the top losers., Markets News - T

Benchmark indices fell for the second straight session on Tuesday, as investors await the outcome of US elections and the US Fed policy review later this week amid a weak set of domestic quarterly results that are threatening sustenance of prevailing stock valuations.

The Indian stock market faced a broad selloff, with the Sensex and Nifty 50 dropping over 1% each. Mid and small-cap indices fell up to 2%, leading to a market cap decline of about ₹6 lakh crore.

The next key event is the US election scheduled on. Owing to deep correction, the key support level for Sensex and Nifty 50 is around 78500 and 23800 respectively.

On Monday, the Sensex fell over 900 points to 78,782.24, while the Nifty slipped below 24,000, closing at 23,995.35. Major losses were attributed to declines in the banking, finance, and technology sectors.

The NSE Nifty 50 climbed 0.91% to 24,213.3, and BSE Sensex increased 0.88% to 79,476.63. Both indices initially declined 0.6% during trading but recovered in the final two hours of the session.

Sensex jumped over 1,100 points from day’s low and Nifty 50 traded near the 24,200 level on November 5, rebounding from early morning losses.