Sensex Falls 249 Points, Nifty Slips 80 As IT Stocks Drag Markets Ahead Of Key US-Iran Talks
Indian equity markets ended lower on Tuesday, with Sensex falling 249 points and Nifty declining 80 points as IT stocks remained under pressure. Investors stayed cautious ahead of the US-Iran talks, while broader markets showed resilience with gains in mid-cap and small-cap indices.
Indian equity markets ended lower on Tuesday, with Sensex falling 249 points and Nifty declining 80 points. |
Mumbai: Indian benchmark stock indices ended lower on Tuesday as selling in information technology (IT) stocks hurt market sentiment. Investors also remained cautious ahead of the important US-Iran talks in Doha, which kept risk appetite limited.
Market Ends Lower
The Nifty 50 fell 80.50 points, or 0.34 percent, to close at 23,865.75.
The BSE Sensex also declined 249.70 points, or 0.33 percent, to settle at 76,478.67.
Market experts said uncertainty in global markets and weakness in large IT stocks led to profit booking during the session.
IT Stocks Under Pressure
Technology stocks emerged as the biggest drag on the market.
Among Sensex stocks, Infosys, Tata Consultancy Services, HCL Technologies, and Tech Mahindra were among the top losers.
Selling pressure in these heavyweights pulled benchmark indices lower.
On the gaining side, Maruti Suzuki, Titan Company, Bajaj Finance, and Adani Ports helped limit the overall fall.
Technical Levels
Analysts said the 24,000 level has now become an important resistance zone for Nifty.
A strong move above this level may revive bullish momentum and push the index towards the 24,100–24,200 range.
On the downside, 23,800 remains immediate support. Holding above this zone will be important to avoid further weakness.
Broader Market Strong
Despite weakness in headline indices, broader markets performed better.
The Nifty MidCap index rose 0.37 percent, while the Nifty SmallCap index gained 1.02 percent.
This suggests buying interest continued in mid-sized and smaller companies even as large-cap stocks struggled.
Focus on Global Events
Sector-wise, Nifty IT, Nifty Media, and Nifty PSU Bank were the biggest losers.
Meanwhile, Nifty Realty, Consumer Durables, and Chemical indices ended in the green.
Market participants are now closely watching the outcome of the US-Iran talks, as geopolitical developments could influence crude oil prices, foreign fund flows, and overall investor sentiment in the coming sessions.
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