Stock Market Today: Sensex Sheds 388 Points, Nifty Ends Below 24,500

Sensex and Nifty closed lower on Tuesday as investors adopted a cautious stance amid uncertainty over stalled US-Iran negotiations. Selling in realty, FMCG and cement stocks weighed on the market.

The Sensex slipped 388.19 points, or 0.49 per cent, to settle at 78,154.25. The Nifty shed 112.10 points, or 0.46 per cent, ending at 24,471.70.

Market experts identified 24,400 as the immediate support for the Nifty.

A decisive fall below this level could drag the index towards 24,300. On the upside, 24,500 now serves as the immediate resistance.

The broader 24,600–24,700 range remains a stronger hurdle.

Analysts said a sustained move above 24,700 would be necessary to restore bullish momentum.

Investor sentiment remained subdued as signs of stalled negotiations between the US and Iran raised concerns over energy markets and global risk appetite.

Among Nifty constituents, Tata Consumer Products, Max Healthcare Institute and UltraTech Cement emerged among the session’s biggest losers.

The broader market remained comparatively resilient. The Nifty MidCap index slipped 0.02 per cent, while the Nifty SmallCap index gained 0.22 per cent.

Sectorally, the Nifty Cement index recorded the steepest decline. FMCG, Realty and Metal indices also ended lower.

In contrast, Pharma stocks gained, with the Nifty Pharma index leading sectoral performance as investors shifted towards defensive counters.

Market participants now await US Consumer Price Index (CPI) data on Wednesday, which could influence global interest-rate expectations and market direction.

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