Benchmark stock market indices closed higher on Tuesday, reversing earlier losses as investors gravitated toward financial stocks that are seen as having cheaper valuations ahead of the closely watched US presidential election.

Tata Steel, JSW Steel, Hindalco, Bajaj Auto, and Axis Bank were among the top gainers on the Nifty index. Trent, Adani Ports, Asian Paints, ITC and Infosys were among the top losers., Markets News - T

The next key event is the US election scheduled on. Owing to deep correction, the key support level for Sensex and Nifty 50 is around 78500 and 23800 respectively.

Stock Market LIVE Updates, Tuesday, November 5, 2024: Indian markets, tracking global peers, would have its focus turned towards the US presidential elections, as the country heads into a closey tracked and even closer to call contest between Republican Donald Trump and Democrat Kamala Harris to occupy the White House for the next four years.

The Indian stock market faced a broad selloff, with the Sensex and Nifty 50 dropping over 1% each. Mid and small-cap indices fell up to 2%, leading to a market cap decline of about ₹6 lakh crore.

Indian stock markets continued their downward trend after opening lower on Monday, weighed down by mixed signals from global markets. Both the BSE Sensex and Nifty 50 showed weakness as investors adopted a cautious stance.

Sensex jumped over 1,100 points from day’s low and Nifty 50 traded near the 24,200 level on November 5, rebounding from early morning losses.

Indian benchmark equity indices BSE Sensex and Nifty 50 dragged at opening bell on Tuesday, amid mixed global cues.At opening bell, the BSE Sensex was down 271.63 points, or 0.34 per cent, at 78,510.61,