Indian equity benchmarks ended lower for a second straight session on Tuesday as elevated crude prices and volatile global bond yields kept investors cautious.
The Sensex fell 242.65 points, or 0.33 per cent, to settle at 72,529.07. The Nifty declined 64.05 points, or 0.28 per cent, to 22,716.20.
Analysts said limited buying interest persisted in the 23,500-23,600 zone, restricting broader recovery attempts. They placed immediate Nifty resistance at 22,750-22,800.
“On the downside, 22,550-22,600 remains the key immediate support zone, while a decisive break below 22,500 could intensify selling pressure and expose the index to the 22,300–22,000 region,” analysts stated.
Selling pressure hit large-cap stocks, with Titan Company emerging as the biggest Nifty loser.
IT stocks remained weak, with Wipro and HCLTech among the major drags on the benchmark.
Investors reduced exposure to mid- and small-cap stocks, weakening the broader market.
The Nifty MidCap index fell 0.99 per cent, while the Nifty SmallCap index declined 0.81 per cent.
Consumer durables, chemicals, real estate and IT stocks faced heavy selling.
Nifty Consumer Durables, Nifty Chemical, Nifty Realty and Nifty IT ended among the weakest sectoral indices.
Pharmaceutical stocks offered some support, with Nifty Pharma emerging among the better-performing sectoral gauges.
Experts said rising energy prices and fluctuating global bond yields continued to cloud the investment outlook and encouraged a defensive approach.
“While geopolitical tensions will continue to shape near-term sentiment, market focus is gradually shifting towards Q2 earnings, with expectations already tempered versus Q1,” market watchers stated.
The rupee remained largely flat near 95.97, gaining around 0.10 per cent. Analysts placed its range at 95.65-96.15.
Also Read: Stock Market Today: Sensex Falls 138 Points, Nifty Opens 0.21% Lower
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