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FII-driven selling pressure continued to weigh on domestic markets, with indices closing lower. The strengthening US dollar, driven by "Trumponomics," and rising domestic inflation, fueled by increasing food prices and a depreciating rupee, are impacting sentiment and may influence the RBI’s policy.

P N Gadgil Jewellers reported a 46% revenue growth to Rs 2,001.3 crore in Q2 FY25, with a 59% increase in PAT to Rs 34.9 crore. Strong festive demand, lower gold import duties, and a successful flagship event drove the performance.

External commercial borrowings in September dropped by $1.1 billion to $4.8 billion. Financial services led the borrowing activity, with Power Finance Corporation raising $1.06 billion. Other key borrowers included Shriram Finance and Cholamandalam Investment.

Zydus Lifesciences reported a 14% YoY net profit rise to Rs 911 crore for Q2FY25, driven by strong sales in India and the US. Revenue grew 20% YoY to Rs 5,237 crore. However, QoQ profit and revenue declined. EBITDA rose 27.5% YoY.

Stronger bond yields, a rising US dollar, and risk-on sentiment in equities may lead to a short-term retracement in gold prices, according to the World Gold Council. November saw gold pressured by higher opportunity costs, US dollar strength, and gold ETF outflows.

Sebi on Tuesday slapped fines totalling Rs 12 lakh on seven entities, including LCC Infotech and its promoters -- Kirti Lakhotia, Sidharth and Pratik Lakhotia -- for misrepresenting the financial statements of the company.

To facilitate ease of onboarding of Foreign Portfolio Investors and reduce duplication of available information, markets regulator Sebi on Tuesday said applicants can choose to fill either the entire Common Application Form (CAF) or an abridged version with unique fields.

Key stocks in focus included Fortis Healthcare, rising over 2%, and HCL Technologies, which trimmed gains to end slightly in the red. Triveni Turbines experienced a notable volume surge, closing with gains of more than 3% on Tuesday.

Power utility firm CESC Ltd on Tuesday reported a nearly 3 per cent rise in consolidated net profit to Rs 373 crore in the September 2024 quarter, aided by higher income. It posted a profit of Rs 363 crore during the three months ended September 2023, the company said in a regulatory filing.