MUMBAI, India — Indian equity markets closed lower on Tuesday following a volatile trading session marked by profit-taking and cautious investor sentiment.
The Sensex fell 150.68 points, or 0.18 percent, to finish at 84,628.16, while the Nifty slipped 29.85 points, or 0.11 percent, to settle at 25,936.20.
Analysts noted that the overall market structure remains stable, with the Nifty still trading above the 21-day exponential moving average, suggesting that the broader bullish bias remains intact.
“The RSI remains in a bullish crossover and continues to hold within the high-momentum zone. In the short term, the index could see a healthy rally if it sustains above 26,000,” analysts said. “Resistance is seen at 26,300, while support lies around 25,850.”
Among Sensex stocks, Trent, Tech Mahindra, Bajaj Finserv, HCL Tech, Mahindra & Mahindra, and Bajaj Finance were the top laggards. On the other hand, Tata Steel, Larsen & Toubro, State Bank of India, Tata Motors Passenger Vehicles, and Kotak Mahindra Bank gained ground, helping limit the overall losses.
Broader market indices remained largely flat. The Nifty MidCap index dipped 0.02 percent, while the Nifty SmallCap index edged up 0.02 percent. Sector-wise, Nifty Metal and PSU Bank led the gainers, each rising more than 1 percent. Nifty Realty was the biggest loser of the day, followed by IT, Energy, Financial Services, FMCG, Pharma, and Consumer Durables, all of which closed in the red.
Analysts attributed the weakness to profit booking after recent market highs and investor caution ahead of key domestic and global economic data releases.
“The domestic market traded in negative territory for most of the day and ended nearly flat, weighed down by monthly expiry-related profit booking and weak global cues,” experts said. “However, buying at lower levels highlighted investor confidence. Market sentiment is likely to stay supported by easing global trade tensions and expectations of stronger domestic corporate earnings.” (Source: IANS)
