Sensex and Nifty extended their decline on Tuesday as heightened geopolitical tensions and weakness across key sectors dampened investor sentiment.
The Sensex dropped 493 points, or 0.63 per cent, to 77,235.46. The Nifty declined 132.75 points, or 0.55 per cent, to 24,154.90.
Market experts identified 24,300 as the Nifty’s immediate resistance.
“A sustained move above 24,300 could help stabilise the structure and support a recovery towards the 24,400–24,500 region,” an analyst said.
Experts warned that failure to reclaim 24,300 could leave recovery attempts exposed to further selling.
On the downside, 24,150 remains the immediate support. A decisive breach could push the index towards the 24,000 psychological mark.
Tata Motors Passenger Vehicles, Asian Paints and Infosys emerged among the biggest Nifty laggards.
The broader market remained weak. The Nifty MidCap index slipped 0.43 per cent, while the Nifty SmallCap index ended flat.
Sectoral performance remained mixed. Nifty IT, Nifty Realty and Nifty PSU Bank weighed heavily on the benchmarks. In contrast, Nifty Auto emerged as the strongest-performing sector.
Experts said investors remained cautious as they assessed geopolitical risks. Selling in IT, realty and PSU banking stocks further pressured the market.
“Although domestic fundamentals continue to be supportive, sustained high crude prices and rising input costs could pressure recent earnings upgrades, prompting investors to remain cautious in the near term,” a market expert said.
The rupee traded largely flat near 95.67 but continued to face broader weakness.
Experts expect it to remain within the 95.25–95.85 range in the near term.
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