Benchmark equity indices Sensex and Nifty traded lower on Tuesday, pressured by continued foreign fund outflows and a subdued trend across global markets, which dampened investor sentiment.
Around 12:15 pm, the Sensex declined 180.08 points, or 0.21%, to 84,515.46, while the Nifty slipped 57.55 points, or 0.22%, to 25,884.55. Earlier in the session, the Sensex touched an intraday high of 84,802.64, while the Nifty rose to 25,975.85, before paring gains.
Market Performance
Within the Nifty50 pack, stocks such as Eternal, Max Healthcare, and InterGlobe Aviation were among the key laggards, falling up to 2%. On the other hand, Shriram Finance and Hindalco Industries emerged as top gainers, rising up to 2%.
Market breadth remained negative, with 2,078 stocks declining, 1,518 advancing, and 172 remaining unchanged on the NSE.
Factors Dragging the Market
Foreign investor selling continued to weigh on domestic equities, with Foreign Institutional Investors (FIIs) offloading shares worth ₹2,759.89 crore in the previous session, marking the fifth straight day of net outflows.
Global cues also remained weak, as major Asian markets traded in the red, while US equities ended lower overnight, curbing risk appetite among investors.
Additionally, volatility increased as Tuesday marked both the weekly and monthly expiry of Nifty derivatives contracts, a session that typically witnesses sharp intraday swings due to position rollovers and squaring-off activity.
Profit booking was observed across several sectors, including information technology, pharmaceuticals, and real estate, with the Nifty IT index extending its losing streak for the fifth consecutive session.
Rising crude oil prices also added to pressure. Brent crude edged higher to around $61.96 per barrel, raising concerns over inflation and input costs for oil-importing economies like India.
Disclaimer:
This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. Stock market investments are subject to market risks. Readers are advised to consult their financial advisor before making any investment decisions. The author and publisher shall not be held responsible for any losses arising from the use of this information.
