MUMBAI– Indian equity benchmarks closed marginally lower on Tuesday, with traders taking a cautious stance ahead of the Reserve Bank of India’s upcoming monetary policy outcome.
The Sensex ended at 80,267.62, down 97 points or 0.12 percent. The 30-share index opened higher at 80,541.77, briefly breaking a seven-day losing streak, but slipped into the red as selling pressure hit heavyweights like ITC and Tech Mahindra.
The Nifty also edged lower, settling at 24,611.10, down 23.80 points or 0.10 percent.
“The market remained range-bound on the monthly expiry day as investors awaited clarity from the RBI. After last week’s sustained decline, the indices tried to stabilize but faced resistance,” analysts noted. A pause in interest rates is widely expected, though traders are looking to the RBI’s commentary for clues on the trajectory ahead.
Broader market sentiment was mixed. The Nifty 100 shed 19 points, the Nifty Midcap 100 finished flat, and the Nifty Small Cap 100 gained 14 points, or 0.08 percent.
Sector-wise, FMCG and IT lagged, while auto and banking stocks posted gains. Nifty FMCG fell 235 points (0.43 percent), and Nifty IT slipped 37 points (0.11 percent). On the positive side, Nifty Auto rose 105 points (0.40 percent), Nifty Bank gained 174 points (0.32 percent), and Nifty Financial Services closed 15 points higher.
Among individual movers, Bharti Airtel, ITC, Trent, Bajaj Finserv, Titan, Reliance, Tech Mahindra, and L&T ended in the red. Adani Ports, Tata Motors, BEL, Hindustan Unilever, Sun Pharma, Mahindra & Mahindra, and Asian Paints advanced.
“On the expiry day, Nifty faced strong resistance near its 100-day EMA around 24,750. The index has been forming a lower highs–lower lows pattern for the past three sessions, underscoring bearish control. Unless Nifty reclaims and sustains above its 50-day EMA, the short-term outlook remains negative,” said Vatsal Bhuva of LKP Securities. (Source: IANS)
