Stock Market Today: Sensex Falls 238 Points, Nifty Ends Lower For Second Session

Indian benchmark equity indices closed lower for the second consecutive session on Tuesday as selling in information technology and public sector banking stocks weighed on the markets.

Investors remained cautious amid continuing geopolitical tensions in West Asia and rising crude oil prices.

The BSE Sensex fell 238.41 points, or 0.31 per cent, to settle at 77,470.11, while the NSE Nifty declined 51 points, or 0.21 per cent, to close at 24,187.70.

Market experts said the Nifty has immediate support in the 24,150-24,100 range, followed by the key psychological level of 24,000.

On the upside, the index faces resistance between 24,300 and 24,400, with a sustained breakout likely to trigger renewed buying momentum.

Among the Nifty constituents, HDFC Bank, Infosys and State Bank of India emerged as the biggest drags on the benchmark indices, contributing to the day’s decline.

Despite the weakness in large-cap stocks, the broader market remained resilient.

The Nifty MidCap index gained 0.3 per cent, while the Nifty SmallCap index advanced 0.53 per cent.

Sectorally, the Nifty PSU Bank and Nifty IT indices recorded the sharpest losses during the session.

In contrast, the Nifty Chemical and Nifty Cement indices ended among the top gainers, reflecting selective buying in specific sectors.

Analysts said persistent geopolitical tensions in West Asia continued to dampen global risk appetite, keeping investor sentiment subdued.

Analysts said mid-cap stocks remained supported by strong earnings expectations, while geopolitical tensions and higher crude oil prices kept overall market sentiment cautious.

Corporate earnings and global developments are expected to guide markets in the coming sessions.

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