BIZ DESK
Indian equity benchmark indices ended sharply lower on Tuesday, pressured by weak global cues, continued foreign fund outflows, and broad-based selling in metal, realty, and financial stocks. Investor sentiment remained fragile amid a depreciating rupee and subdued trends in global markets.
The 30-share BSE Sensex tumbled 533.50 points, or 0.63 per cent, to close at 84,679.86, while the broader NSE Nifty50 slipped 167.20 points, or 0.64 per cent, to settle at 25,860.10. Losses were led by heavyweights in the banking, IT, and metals space, which dragged the indices lower throughout the session.
Among Sensex constituents, Axis Bank emerged as the top loser, plunging over 5 per cent. Eternal, HCL Technologies, Bajaj Finserv, Tata Steel, UltraTech Cement, Bajaj Finance, and NTPC also declined by more than 1 per cent each, reflecting sustained pressure in private banking, IT, cement, and metal stocks. On the positive side, select consumption- and telecom-linked stocks provided limited support, with Titan and Bharti Airtel gaining over 1 per cent each. Mahindra & Mahindra, Asian Paints, and Trent also ended the session in the green.
The broader markets mirrored the weakness in frontline indices. The Nifty MidCap 100 fell 0.83 per cent, while the SmallCap index declined 0.92 per cent, indicating risk aversion among investors.
Sectorally, Nifty Realty and Nifty Private Bank slipped over 1 per cent each. PSU banks also remained under pressure, with the Nifty PSU Bank index down 0.89 per cent, while Nifty IT lost 0.84 per cent amid global tech weakness. In contrast, Nifty Consumer Durables and Nifty Media were the only sectors to close higher.
In individual stocks, recently listed Meesho surged 13 per cent intraday to ₹193.50, trading at a premium of around 74 per cent over its IPO price. Meanwhile, the Indian rupee hit a fresh all-time low of 91.01 against the US dollar, adding to market concerns.
Sector-wise Performance
Top Losers
- Nifty Realty: Down over 1%, dragged by selling pressure in real estate stocks
- Nifty Private Bank: Fell over 1%, led by sharp losses in Axis Bank
- Nifty PSU Bank: Down 0.89%, tracking weakness in the broader banking space
- Nifty IT: Declined 0.84%, mirroring weak global technology cues
- Metals & Cement (Select Stocks): Stocks like Tata Steel and UltraTech Cement fell over 1%
Top Gainers
- Nifty Consumer Durables: Ended in the green, supported by gains in Titan
- Nifty Media: Also closed higher, bucking the broader market trend
Broader Market
- Nifty MidCap 100: Down 0.83%
- Nifty SmallCap: Slipped 0.92%
Overall, markets remained under pressure due to weak global cues, a falling rupee, and persistent foreign fund outflows, with selling concentrated in financials, realty, and metal stocks.