Sensex, Nifty Dip In Choppy Session; Metal & PSU Bank Stocks

The Sensex fell 150.68 points, or 0.18 per cent, to close at 84,628.16, while the Nifty declined 29.85 points, or 0.11 per cent, to end at 25,936.20.

Indian equity markets ended lower on Tuesday after a volatile session, as investors booked profits in select sectors.

Meanwhile, maintain a cautious stance ahead of key economic data.

Analysts noted that despite the day’s weakness, the overall trend remains positive:

“The Nifty continues to trade above its 21-EMA, keeping the bullish structure intact. The RSI is in a bullish crossover and within the high-momentum zone,” they said. “A move above 26,000 could trigger a fresh rally. On the higher end, resistance is seen at 26,300, while support lies at 25,850.”

Among the Sensex constituents, Trent, Tech Mahindra, Bajaj Finserv, HCL Tech, Mahindra & Mahindra and Bajaj Finance were among the top losers.

In contrast, Tata Steel, Larsen & Toubro (L&T), State Bank of India, Tata Motors Passenger Vehicles and Kotak Mahindra Bank helped cushion losses with notable gains.

In the broader market, the Nifty MidCap index slipped marginally by 0.02 per cent. Meanwhile, the Nifty SmallCap index edged up by 0.02 per cent, indicating limited movement.

Sector-wise, Nifty Metal and PSU Bank indices outperformed, each gaining over 1 per cent. Meanwhile, Nifty Realty led the losers, followed by IT, Energy, Financial Services, FMCG, Pharma and Consumer Durables, all ending in the red.

Experts attributed the decline to profit-taking after recent highs and investor caution amid weak global cues.

“The domestic market remained range-bound and volatile, weighed down by profit booking on monthly expiry and subdued sentiment across global markets,” analysts said.

They added that buying interest at lower levels reflects investor confidence.

“Market sentiment is likely to remain supported by easing trade tensions and expectations of stronger corporate earnings,” they noted.

Also Read: Sensex, Nifty Rise In Early Trade Amid Mixed Global Cues And Earnings Watch