Indian benchmark indices traded in the red zone early on Tuesday, weighed down by negative global cues, tech sell-off at Wall Street, and continued selling by foreign portfolio investors (FPIs).
Around 9:30 AM, the Sensex moved down 115 points, or 0.14 per cent, to 84,579, while the Nifty eased 30 points, or 0.12 per cent, to 25,911.
Main broad-cap indices mirrored benchmark losses, with the Nifty Midcap 100 declining 0.03 per cent and the Nifty Smallcap 100 falling 0.08 per cent.
Among sectoral movers, Nifty PSU Bank was the top loser, down 0.18 per cent, followed by Nifty Realty, which slipped 0.13 per cent.
Analysts placed immediate support for Nifty in the 25,850–25,900 zone and expect resistance at 26,150–26,200.
They noted that the year-end trend, though weak, does not signal a directional shift, adding that the advance-decline ratio favoured declines, which led Nifty to drop 100 points yesterday despite thin volumes.
A clear market direction is likely to emerge in the new year when large institutions resume activity. Investors are advised to wait for new triggers and decisive moves.
Key Triggers to Watch
Auto sales numbers, expected in the coming days, may provide insights into the sustainability of consumption growth and broader economic trends, analysts said.
Asia-Pacific markets mostly fell during the morning session, reflecting concerns over the Wall Street tech sell-off.
China’s Shanghai index lost 0.1 per cent, Shenzhen rose 0.23 per cent, Japan’s Nikkei fell 0.11 per cent, Hong Kong’s Hang Seng gained 0.47 per cent, and South Korea’s Kospi declined 0.01 per cent.
US markets ended in the red on Monday, with the Nasdaq down 0.5 per cent, the S&P 500 easing 0.35 per cent, and the Dow falling 0.51 per cent.
On December 29, foreign institutional investors (FIIs) sold equities worth Rs 2,760 crore, while domestic institutional investors (DIIs) were net buyers of Rs 2,644 crore.
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