The BSE Sensex dropped by 368.49 points (0.46%) to close at 80,235.59, while the Nifty50 fell 97.65 points (0.4%) to 24,487.40.
Indian equity markets ended Tuesday’s session in the red, with benchmark indices snapping recent gains amid broad-based selling in financial, FMCG and realty counters.
The BSE Sensex fell 368.49 points, or 0.46%, to close at 80,235.59, while the Nifty50 shed 97.65 points, or 0.40%, to end at 24,487.40. Market sentiment turned cautious ahead of key domestic inflation data and global cues, with traders also booking profits after recent record highs.
Top movers: On the Sensex, Maruti Suzuki, Tech Mahindra, and Mahindra & Mahindra emerged as top gainers, buoyed by strong sales trends and sectoral optimism. On the flip side, Bajaj Finance, Trent, and Hindustan Unilever weighed heavily on the index amid concerns over valuations and muted near-term growth prospects. The same trend was mirrored on the NSE, where Tech Mahindra, Maruti Suzuki, and Hero MotoCorp led gains, while Bajaj Finance, Trent, and Hindustan Unilever lagged.
Sectoral snapshot: Broader markets ended mixed, with the Nifty Midcap 100 slipping 0.27% and Nifty Smallcap eking out a marginal 0.04% gain, signaling stock-specific action rather than a uniform market trend.
Sectorally, the Nifty Pharma index closed in the green but displayed notable undercurrents of weakness. While frontline pharma names supported the index, select counters faced selling pressure post-Q1 earnings — Abbott India fell 2.09%, Natco Pharma lost 1.3%, Divi’s Labs slipped 0.43%, and Marksans Pharma tanked over 10% after disappointing results.
Banking & financial stocks bore the brunt of the selloff, with the Nifty Financial Services index down 0.9% and Private Bank index lower by 0.81%. Realty stocks extended losses, declining 0.73%, while FMCG shares dropped 0.5% on profit booking.
On the positive side, Nifty Metal and Nifty IT gained 0.38% each, supported by stable commodity prices and renewed buying interest in technology shares. Nifty Auto outperformed with a 0.56% jump, driven by optimism over festive-season demand and easing supply constraints.
Market outlook: Analysts said that the day’s weakness was largely a technical pullback after a sharp rally, with traders awaiting inflation, IIP data, and global macroeconomic signals for direction. Global markets were mixed as investors tracked U.S. Federal Reserve commentary and Chinese economic indicators.
