Indian equity benchmark indices ended lower on Tuesday, dragged down by weak global cues and sustained selling pressure in metal, realty and financial stocks, which dampened overall market sentiment.
At the close, the Sensex fell 533.50 points, or 0.63 per cent, to settle at 84,679.86, while the Nifty declined 167.20 points, or 0.64 per cent, to end at 25,860.10.
Market experts noted that the session breached key technical levels.
“On the downside, the support at 25,870 was breached, intensifying bearish sentiment in the market,” they said.
“In the short term, the index may drift lower towards 25,700 and lower. On the upside, the 25,950–26,000 zone is likely to act as a crucial resistance in the near term,” they added.
Banking and financial stocks led the decline, with Axis Bank and Eternal emerging as the top laggards among Sensex constituents, slipping up to 5 per cent.
Other heavyweight stocks, including HCL Technologies, Tata Steel, Bajaj Finserv, UltraTech Cement, Bajaj Finance and NTPC, also ended more than 1 per cent lower, adding to the pressure on the frontline indices.
Selective Gains Fail to Offset Losses
Gains remain limited and selective. Titan and Bharti Airtel advanced over 1 per cent each, offering some support to the market.
Shares of M&M, Asian Paints and Trent also closed in the green, though these gains were insufficient to offset broader losses.
The broader market mirrored the weakness and largely moved in tandem with the benchmark indices.
The Nifty MidCap 100 index declined 0.83 per cent, while the Nifty SmallCap index fell 0.92 per cent.
On the sectoral front, real estate and private banking stocks witnessed the sharpest cuts, with the Nifty Realty and Nifty Private Bank indices dropping over 1 per cent each. PSU bank stocks also remained under pressure, while the Nifty IT index ended 0.84 per cent lower.
Consumer durables and media were the only sectors to finish in positive territory.
Meanwhile, the Indian rupee weakened further during the session and touched a fresh all-time low of 91.01 against the US dollar, adding to concerns over global uncertainty and capital flows.
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