Sensex And Nifty End Lower As Banking, Metal Stocks Drag Markets

Indian benchmark equity indices erased their intra-day gains and settled lower on Tuesday amid weakness in banking, financial and metal stocks.

The BSE Sensex declined 114.19 points, or 0.15 per cent, to close at 75,200.85, while the NIFTY 50 fell 31.95 points, or 0.14 per cent, to settle at 23,618.

Market experts said a sustained move above the 23,700–23,800 zone would be necessary for the Nifty to regain momentum toward the psychological 24,000 level, where stronger resistance is expected.

“On the downside, the 23,600–23,500 zone continues to remain a crucial immediate support area, and a decisive breakdown below this region could extend weakness toward the broader 23,300 zone,” an expert said.

Among the major laggards on the Nifty were Titan Company, UltraTech Cement, and Tata Consumer Products.

On the Sensex, Kotak Mahindra Bank emerged as the top loser, followed by Bharti Airtel, Sun Pharmaceutical Industries, and IndiGo.

IT stocks offered some support, with Infosys leading the gainers. HCL Technologies, Tech Mahindra and Tata Consultancy Services also ended higher.

The Indian rupee weakened sharply during the session, touching a fresh low of 96.61 against the US dollar before settling at 96.53, compared to the previous close of 96.36.

Analysts attributed the weakness to elevated crude oil prices and continued pressure on capital flows. They said the rupee will likely trade in the 96.25–97.00 range in the near term.

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