Mumbai — Indian benchmark equity indices ended lower for a second consecutive session Tuesday as selling in banking, auto, real estate and healthcare stocks weighed on the market amid renewed tensions between the United States and Iran.
The 30-share Sensex slipped 12.99 points, or 0.02%, to close at 76,944.28, while the broader Nifty fell 24.60 points, or 0.1%, to 24,055.80.
Market analysts said the 24,150-24,200 range is likely to serve as the immediate resistance zone for the Nifty.
“A sustained move above 24,200 would be required to stabilize the index and support a recovery towards the broader 24,300-24,400 resistance band. Until the index decisively reclaims these levels, selling pressure at higher levels is likely to persist,” a market expert said.
Another analyst said sustained trading below the psychological 24,000 level could push the index toward the 23,900-23,800 range.
Among Nifty stocks, Shriram Finance, Maruti Suzuki India and InterGlobe Aviation were among the biggest losers, adding pressure to the benchmark indices.
The broader market also declined. The Nifty MidCap index fell 1.39%, while the Nifty SmallCap index slipped 0.23%.
Sectoral performance was mixed, with Nifty Healthcare, Nifty Auto, Nifty Realty and Nifty Pharma underperforming the broader market. Nifty FMCG and Nifty IT, however, posted relative gains and helped limit the decline.
Market participants remained cautious as renewed U.S.-Iran tensions raised concerns about global economic stability and investor sentiment, keeping volatility elevated.
“In the near term, market trends are likely to be driven by developments in energy markets, global monetary policy expectations, and capital flows into emerging economies,” a market expert said. (Source: IANS)
