Mumbai— Indian equity markets closed lower on Tuesday as investors booked profits, citing valuation concerns and weakness across broader Asian markets.
The benchmark BSE Sensex declined 624.82 points, or 0.76 percent, to settle at 81,551.63, while the NSE Nifty fell 174.95 points, or 0.70 percent, to end at 24,826.20.
Losses were led by FMCG, IT, auto, and metal stocks. The Nifty FMCG index dropped 0.88 percent, Nifty IT declined 0.75 percent, Nifty Auto fell 0.70 percent, and Nifty Financial Services slipped 0.64 percent.
In contrast, mid- and small-cap stocks showed resilience. The Nifty Midcap 100 index rose by 87.25 points (0.15 percent) to 57,154.50, while the Nifty Smallcap 100 index gained 17.35 points (0.10 percent) to close at 17,725.15.
“The Nifty has been consolidating for the past 10–11 sessions, creating a sense of indecision among investors. Still, the broader trend remains strong as the index holds above its short-term moving average,” said Rupak De, Senior Technical Analyst at LKP Securities. He expects the index to test the 25,000–25,150 range in the near term, with support around 24,700.
The session was marked by volatility, with sharp swings in both directions.
Sector-wise performance was mixed. PSU bank and real estate stocks showed positive momentum, while consumer goods, IT, auto, consumption, and financial services lagged.
“Today’s market reflected classic indecision, with both bulls and bears making strong moves,” said Sundar Kewat of Ashika Institutional Equity.
Vinod Nair, Head of Research at Geojit Financial Services, noted that mid- and small-cap segments outperformed due to stronger-than-expected Q4 earnings and easing valuation pressures.
On the currency front, Dilip Parmar of HDFC Securities said the USD-INR pair may rise slightly in the near term due to month-end adjustments and demand from oil importers. He noted resistance at 85.90 and support at 84.80. (Source: IANS)
