After being in the negative territory on weak global cues, the stock market closed in the red on Tuesday. International markets faced significant turmoil, sending shockwaves through global financial centres, which reverberated in Indian equities.Sensex declines 316.31 points to settle at 65,512.10 Nifty drops 109.55 points to 19,528.75— Press Trust of India (@PTI_News) October 3, 2023 At the closing bell, the Sensex reported a decline of 323.09 points, settling at 65,505.32, while the Nifty also ended in the red, closing 109.55 points lower, at 19,528.75.Among the Nifty companies, there were 12 advances and 37 declines, underscoring the broad-based pressure on the market.Top gainers among the Nifty firms included Bajaj Finance, Larsen & Toubro (LT), Titan, Bajaj Finserv, and Adani Ports, signalling some resilience in select sectors. While the bears were firmly in control, the top losers at the time of closing included ONGC, Eicher Motors, Maruti, Hindalco, and Dr Reddy.The World Bank, meanwhile, retained Indias GDP growth forecast for the financial year 2023-24 at 6.3 per cent, noting that the country continued to show resilience against the backdrop of a challenging global environment.Key sectors to watch in the medium term included Information Technology, Metals, Financial Services, and Banks, which exhibited relative strength amid market turbulence.Despite the days challenges, the overall bias for Indian markets remained positive. Analysts noted that the bullish momentum would remain intact as long as the market held above the key support level of 18,887.However, the markets resilience will be put to the test in the coming days as it navigates the uncertain global landscape.
