Mumbai: Indian stock markets ended sharply lower on Tuesday as heavy selling in metal, information technology and public sector banking stocks dragged benchmark indices deep into the red.
The sell-off came amid weak global market cues and cautious investor sentiment.
The BSE Sensex fell 893.39 points, or 1.16 percent, to close at 76,200.68.
The NSE Nifty also dropped 278.80 points, or 1.16 percent, to settle at 23,824.10.
Broad Selling Pressure
Markets remained under pressure for most of the trading session.
Weakness in global equities affected domestic sentiment, leading to broad-based selling across key sectors.
Investors stayed cautious due to concerns over global economic growth and continued uncertainty in international markets.
Experts said traders preferred reducing exposure instead of taking fresh positions.
Metal Stocks Hit Hard
Metal stocks emerged as the biggest losers of the day.
The Nifty Metal index plunged more than 3 percent, making it the worst-performing sector.
Major metal counters witnessed sharp declines as investors booked profits after recent gains.
The fall in metal stocks added strong pressure on the broader market.
IT And Banking Drag Markets
Technology stocks also saw heavy selling.
The Nifty IT index declined more than 2 percent, with all major constituents ending in the red.
Stocks such as Infosys, Tata Consultancy Services and JSW Steel were among the major laggards on the Nifty.
Public sector banking stocks also remained weak, adding to market pressure.
The weakness spread beyond large-cap stocks.
The Nifty MidCap index fell 1.05 percent, while the Nifty SmallCap index slipped 0.48 percent.
Defensive Sectors Offer Support
Despite the sell-off, defensive sectors offered some support.
Pharma and healthcare stocks outperformed the broader market as investors shifted towards safer sectors.
Experts said early gains could not sustain as profit booking intensified later in the session.
Although stable crude oil prices and easing geopolitical tensions offered some relief, investors remained focused on monsoon progress and ongoing US-India trade talks.
