Stock market today: Losses in shares of select heavyweights, including Reliance Industries, Bajaj Finance, and Bajaj Auto, dragged Indian stock market benchmarks—the Sensex and the Nifty 50—into negative territory on Tuesday, October 15, even as mid and small-cap segments of the market ended with gains.
Weak global cues, unimpressive Q2 earnings and concerns over sticky inflation also weighed on market sentiment. However, a sharp fall in crude oil prices offered some comfort and capped the losses for the market.
There were no clear cues from global peers. European markets and US futures traded mixed, while oil prices crashed after reports that Israel will not strike Iranian energy targets.
The domestic market lacks new catalysts to sustain its gains, and the lacklustre September quarter earnings raise concerns that the Indian market’s stretched valuations may be unsustainable.
