Market edge lower ahead of U.S. economic data

The domestic share market indices, Nifty and Sensex closed slightly lower on Tuesday, snapping a 10-day winning streak. At close, the Sensex was down 4.40 points or 0.01 percent at 82,555.44, and the Nifty was up 1.15 points at 25,279.85.
The Sensex and Nifty experienced volatile trading in negative territory on September 3, weighed down by losses in the banking and IT sectors. This decline comes after both benchmarks had recorded gains for the past 10 sessions. BSE Sensex snapped 11th consecutive session gains, while the Nifty 50 extended the its rally for the 14th straight session. Meanwhile, the market's focus has shifted to upcoming U.S. economic releases, particularly the ISM manufacturing report on September 3 and the employment data on September 6, as they may influence the Federal Reserve's rate-cut decisions.
SBI Life Insurance, ICICI Bank, HDFC Life, Shriram Finance and Bajaj Finserv were the top gainers on the Nifty, while losers included ONGC, Infosys, Bajaj Finance, JSW Steel and Adani Ports.
On the sectoral front,bank and capital goods indices were up 0.5 percent each, while media, power, metal, realty and oil & gas were down 0.5-1.5 percent.The BSE midcap index ended with marginal gains and the smallcap index rose 0.5 percent.
Rupee Close:
On 03 Sep'24,the Indian rupee declines 5 paise to close at 83.96 against the US dollar on Tuesday,due to a stronger greenback in global markets and weak domestic manufacturing data.A decline in the domestic equity market also contributed to the drop in the local unit, forex traders reportedly stated.
Trading Guide: 
Vinod Nair, Head of Research, Geojit Financial Services reportedly quoted as saying, amid mixed global signals and the absence of significant new catalysts, aside from the anticipated Fed rate cut, which is already factored in, the domestic market took a breather. Mild caution emerged due to a recent slowdown in manufacturing activities, which indicates a slowdown in demand. However, predictions of an above-normal monsoon extending through September and accelerated capex by the GoI in the H2FY25 boosted consumption and rural based stocks like FMCG stocks.
Market experts have recommended five shares to buy today-Thangamayil Jewellery, Patanjali Foods, Balkrishna Industries, ONGC, and Wipro.

(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat)