MUMBAI, Maharashtra — Indian equity markets extended losses on Tuesday, with benchmark indices closing sharply lower as investors remained cautious amid rising global tensions and continued to track company-specific developments during the ongoing third-quarter earnings season.
Heavy selling pressure persisted throughout the session. The Sensex fell 1,065.71 points, or 1.28 percent, to close at 82,180.47, while the Nifty declined 353 points, or 1.38 percent, to settle at 25,232.5.
Technical analysts said the Nifty appears to be drifting toward its 200-day moving average. Immediate support is seen in the 25,100–25,150 range, and a sustained hold at those levels could trigger a near-term pullback.
Selling was widespread across frontline stocks. All Sensex constituents ended lower except HDFC Bank. Bajaj Finance, Eternal, Sun Pharma, and IndiGo were among the major drags on the indices. Other notable losers included Trent, Asian Paints, Mahindra and Mahindra, Bajaj Finserv, Tata Steel, and Tech Mahindra.
Sectoral indices also closed broadly in the red. The Nifty Realty index led the decline, plunging more than 5 percent. The Nifty Auto index fell 2.56 percent, while the Nifty IT index dropped 2.06 percent.
Losses were even steeper in the broader market. The Nifty Midcap index slipped 2.62 percent, and the Nifty Smallcap index declined 2.85 percent, underperforming the benchmark indices.
Market participants said the sharp sell-off reflected heightened investor nervousness amid uncertain global cues and cautious positioning ahead of additional corporate earnings announcements.
Meanwhile, the rupee traded largely flat near 90.90 against the dollar, as geopolitical tensions among NATO members and uncertainty surrounding U.S. interests in Greenland, driven by its rare-earth resources, kept sentiment guarded.
Analysts said the currency remains range-bound, with investors awaiting fresh cues from the Union Budget due in February, while the U.S. Federal Reserve’s policy decision later this month is expected to add volatility. In the near term, the rupee is expected to trade between 90.45 and 91.45. (Source: IANS)
