Tue Oct 01 10:16:00 UTC 2024: ## Indian Markets Close Mixed Amidst Global Uncertainty

**Mumbai, October 1, 2024:** Indian stock markets closed mixed on Tuesday, with the benchmark indices experiencing slight losses while broader market indicators showed signs of strength.

The S&P BSE Sensex ended the day down 33.49 points or 0.04% at 84,266.29, while the Nifty 50 shed 13.95 points or 0.05% to settle at 25,769.90. However, the S&P BSE Mid-Cap index rose 0.27% and the S&P BSE Small-Cap index added 0.56%, suggesting positive sentiment in the broader market.

**Market Volatility Remains Low:** The NSE’s India VIX, which gauges market volatility, declined by 6.25% to 11.99, indicating a relatively calm trading environment.

**Domestic Economic Factors:** India’s fiscal deficit for April-August remained under control at 27% of the full-year target, attributed to muted spending in the early months due to the general elections.

**Manufacturing Sector Shows Robust Growth:** The seasonally adjusted HSBC India Manufacturing Purchasing Managers Index (PMI) fell from 57.5 in August to 56.5 in September, suggesting a strong improvement in the sector, although the weakest since January.

**Individual Stock Performance:** The Nifty Media index gained 1.60%, with several media companies witnessing growth, including Saregama India, Dish TV India, and Sun TV Network. Tata Motors, however, fell by 0.96% due to a decline in vehicle sales.

**Global Markets Mixed:** European stocks traded mixed, with Eurozone inflation falling below 2% for the first time since mid-2021. Asian markets ended higher, boosted by comments from Federal Reserve Chair Jerome Powell, who indicated that future interest rate cuts might not be as aggressive as recent ones.

**Outlook:** With mainland China’s financial markets closed for the remainder of the week, the recent rally in Asian markets is expected to pause. The US equities closed higher on Monday, recovering from earlier losses. Investors are keenly watching upcoming economic data and central bank announcements for clues on future interest rate policies.

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