Markets fall on unabated foreign fund outflow, Capital goods, PSBs outshine

Indian equity benchmark indices traded lower on Tuesday amid unabated foreign fund outflows and sluggish Asian market cues. Fall in index majors Reliance Industries and HDFC Bank also dragged the benchmark indices lower. At close, the Sensex was down 316.31 points or 0.48 percent at 65,512.10, and the Nifty was down 109.55 points or 0.56 percent at 19,528.75. About 1816 shares advanced, 1817 shares declined, and 189 shares unchanged. 
Stocks and Sectors 
Titan Company, Bajaj Finance, L&T, Bajaj Finserv and Adani Ports were the top gainers on the Nifty,while losers included ONGC,Eicher Motors, Hindalco Industries, Maruti Suzuki and Dr Reddy's Laboratories.
On the sectoral front, FMCG, auto, power, metal, and oil & gas was down 0.5-1 percent, while PSU Bank index was up 2.3 percent and capital goods index up 1 percent.The BSE midcap index ended flat, while smallcap index rose 0.6 percent.
On 3 Oct'23,the Indian rupee ended 16 paise lower to close at 83.20 against the US dollar tracking losses in Asian currencies.Analysts are cautious ahead of the Reserve Bank of India's bi-monthly policy due on Friday. Analysts suggest that the RBI is likely to maintain its pause on interest rate hikes at this meeting. Meanwhile, traders will watch RBI's commentary amid challenges such as rising oil prices, rising current account deficit and inflation.
Experts Take:
Market experts have recommended six stocks to buy or sell for Tuesday- Tata Motors, Dr Lal Pathlabs, NCC, Cummins India, GMDC and IIFL Securities.

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