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Indian stock markets, Nifty and Sensex, closed lower on Tuesday's derivatives expiry day, reversing early gains. Key global events included a positive call between US President Donald Trump and China's Xi Jinping, Ethiopia's historic volcano eruption, and Russia's strikes on Kyiv. Domestically, the government is evaluating options to maintain a tobacco cess post-GST compensation framework, while Delhi's air quality remained in the 'very poor' category. In the US, Nasdaq saw its best day since May, boosted by AI-linked stocks like Alphabet, though Apple initiated rare sales layoffs.