MUMBAI, India — Indian equity markets closed lower on Tuesday as investors stayed cautious ahead of anticipated U.S.–India trade talks, with selling pressure concentrated in consumer durables and real estate stocks.
Benchmark indices traded in a narrow range through the session as market participants refrained from taking aggressive positions ahead of the discussions between the two countries.
The Sensex ended at 83,627.69, down 250.48 points, or 0.30 percent, while the Nifty slipped 57.95 points, or 0.22 percent, to close at 25,732.30.
“Immediate support is placed at 25,650–25,600; a sustained break below this band could increase downside pressure toward 25,500,” an analyst said. “On the upside, resistance is seen at 25,800–25,900, with a stronger barrier at 25,950–26,000.”
Analysts added that a decisive close above this resistance zone would be required to open room for a move toward 26,100 and higher.
Caution on Dalal Street followed comments on Monday from U.S. Ambassador to India Sergio Gor, who said India and the United States were set to hold trade talks on Tuesday.
Among Sensex constituents, Eternal, Tech Mahindra, and ICICI Bank were the top gainers, providing limited support to the benchmark. However, losses in Trent, Larsen & Toubro, and IndiGo weighed on the market and dragged the indices into negative territory.
The broader market showed mixed performance. The Nifty Midcap 100 index ended 0.20 percent lower, while the Nifty Smallcap 100 index rose 0.60 percent.
Sectorally, consumer durables stocks were among the worst performers, with the Nifty Consumer Durables index declining 0.89 percent. Realty stocks also remained under pressure, falling 0.62 percent.
In contrast, PSU bank stocks outperformed the broader market, with the Nifty PSU Bank index gaining 0.78 percent. Media stocks also attracted buying interest and closed 0.76 percent higher.
Market participants said sentiment remained cautious as investors awaited clarity from the U.S.–India trade talks, which are expected to influence near-term market direction. (Source: IANS)
