Indian equity markets began Tuesday’s session on a soft note as weak global cues weighed on investor sentiment.
Both benchmark indices slipped 0.2 per cent at the opening bell, reflecting caution across global markets.
The Sensex fell 195 points to 84,756 in early trade, while the Nifty declined 64 points to 25,949.
Pressure on major heavyweight stocks contributed to the subdued start, setting a cautious tone for the trading day.
Market analysts pointed to important technical levels that are likely to guide the Nifty’s immediate trajectory.
They noted that resistance currently lies at 26,100, followed by 26,150.
On the downside, the 25,850–25,900 range is expected to offer meaningful support, serving as a potential accumulation zone for positional traders.
Experts emphasised that these levels will remain critical as the index negotiates early weakness.
Major Laggards and Gainers
A number of blue-chip stocks slipped in early trade, with Tata Steel, Bajaj Finance, Bajaj Finserv, Kotak Mahindra Bank, Larsen & Toubro, Mahindra & Mahindra, Tech Mahindra, HCL Tech, Sun Pharma and Titan declining between 0.5 per cent and 1 per cent.
However, a handful of stocks managed to hold firm.
Bharat Electronics, Bharti Airtel, Axis Bank, Eternal and the State Bank of India were among the gainers on the Sensex, rising up to 0.5 per cent and providing marginal support to the benchmarks.
The weakness extended to the broader markets. The Nifty MidCap index slipped 0.25 per cent, while the Nifty SmallCap index fell 0.40 per cent, signalling broad-based selling pressure.
Sectoral performance was mixed. The Nifty PSU Bank index was the only one trading higher, gaining 0.25 per cent.
In contrast, Nifty Realty and Nifty Metal declined by 0.8 per cent each, while the Nifty IT index fell 0.5 per cent, mirroring global technology weakness.
Despite overall weakness, the Bank Nifty reflected pockets of buying, indicating resilience within the banking sector.
Analysts identified strong support at 58,600, cautioning that a breakdown below this level could trigger a modest decline towards 58,800.
On the upside, resistance at 59,100 remains a crucial barrier.
A sustained move above this level may open the path towards 59,300, signalling the potential continuation of a bullish trend.
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