The 30-share BSE benchmark Sensex declined 384 points or 0.52% to settle at 73,512. The broader NSE Nifty dropped 140 points or 0.62% to end at 22,302. Oil steadied on Tuesday as weakness in the physical market countered concern about conflict in the Middle East as Israel stepped up attacks in southern Gaza and a ceasefire deal between Hamas and Israel hung in the balance.
Despite a 3% year-on-year and 1% month-on-month decline in white-collar hiring, various sectors experienced job growth. Notably, demand surged for specific roles like drilling engineers, brand managers, and IT professionals in different cities.
Shreyash Devalkar of Axis Mutual Fund discusses the market volatility and potential growth areas like FMCG, private banks, and IT. He emphasizes the importance of monitoring valuations and anticipating a market turnaround for these sectors. He says that most of the volatility at the stock level is based on the result season.