Indian benchmark equity indices ended marginally lower on Tuesday after trading in a narrow range throughout the session, as losses in PSU Bank, FMCG and chemical stocks outweighed gains in the information technology sector.
The Sensex fell 69.86 points, or 0.09 per cent, to settle at 76,765.92, while the Nifty declined 10.60 points, or 0.04 per cent, to close at 23,985.35.
Among the Nifty constituents, Hindustan Unilever, Bharat Electronics (BEL) and Coal India emerged as the top laggards.
The broader market delivered mixed performance, with the Nifty MidCap index rising 0.08 per cent and the Nifty SmallCap index slipping 0.22 per cent.
Sectorally, FMCG, PSU Bank and chemical stocks remained under pressure.
The Nifty FMCG index snapped its two-session winning streak, while the Nifty PSU Bank and Nifty Chemical indices also ended in the red.
In contrast, the Nifty IT index surged more than 3 per cent, extending its winning streak to a third consecutive session and lending support to the benchmark indices.
Technical Outlook
Commenting on the technical outlook, analysts said the Nifty faces strong resistance at 24,050, while the index has support around 23,920.
A decisive move above 24,050 could push the index towards 24,500 in the short term, while support on the lower side is placed at 23,800.
Market experts said easing geopolitical tensions in the Middle East provided some relief, but renewed weakness in global technology stocks amid concerns over China’s advances in semiconductor manufacturing and their impact on AI-related valuations kept investors cautious.
The Indian rupee appreciated for a third consecutive session, supported by lower imported commodity prices and steady dollar inflows from banks.
Analysts said the spot USDINR pair has immediate support in the 95.60–95.40 range, while 96.15 remains a key resistance level.
Also Read: Stock Market Today: Sensex, Nifty Open Flat As Global Chip Selloff Weighs On Sentiment
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