Indian Shares Drift Lower Amid F&O Expiry

Indian shares drifted lower on Tuesday as continued selling by foreign investors offset positive cues from global markets.

The benchmark BSE Sensex swung between gains and losses before closing down 313.70 points, or 0.37 percent, at 84,587.01, dragged down by IT and media stocks.

The broader NSE Nifty index dropped 74.70 points, or 0.29 percent, to 25,884.80 in a volatile trade session amid monthly expiry of Nifty F&O contracts for the November series.

The BSE mid-cap and small-cap indexes rose around 0.2 percent each. The market breadth was slightly positive on the BSE, with 2,093 shares rising while 2,079 shares declined and 158 shares closed unchanged.

Trent and TMPV led losses to end down around 1.6 percent each while Kotak Mahindra, HCL Technologies, HDFC Bank, Power Grid Corp and Infosys all fell around 1 percent.
Global cues were positive due to AI optimism and increased confidence in a Federal Reserve rate cut.

Sentiment was also underpinned after U.S. President Donald Trump announced an April visit to China at Xi Jinping’s invitation following a productive phone call.

Gold edged down slightly after hitting over one-week high on dovish comments from Federal Reserve officials.

Oil prices drifted lower on oversupply concerns and ahead of key U.S. economic data due later in the day, expected to provide valuable insights into inflation pressures, consumer spending patterns and overall economic sentiment in the world’s largest economy.