Mumbai: India’s benchmark stock indices started Tuesday on a weaker note, tracking mixed global signals, with auto, PSU bank, and financial services sectors facing early selling pressure.
By 9:31 am, the Sensex slipped 40.79 points (0.05%) to 82,018.63, while the Nifty dropped 22.10 points (0.09%) to 24,923.35. The Nifty Bank declined 51.40 points (0.09%) to 55,369.30, while midcap and smallcap indices also saw losses.
Analyst Mandar Bhojane of Choice Broking noted, “The market traded sideways, stuck between 24,900 and 25,100, indicating uncertainty. Support lies at 24,800–24,900, while resistance is at 25,100–25,235. A break above 25,235 could push Nifty toward 25,500–25,743.”
The Indian rupee strengthened by 10 paise against the US dollar, settling at 85.40, supported by lower crude oil prices and a weaker greenback, as observed by Devarsh Vakil of HDFC Securities.
Among Sensex stocks, Tata Steel, Sun Pharma, Infosys, and Tech Mahindra led gains, while Power Grid, Nestle India, and Titan were among the top losers.
Globally, Asian markets in China, Japan, and Hong Kong traded higher, while the Dow Jones, S&P 500, and Nasdaq posted modest gains in the previous session.
Institutional activity turned cautious, with foreign investors (FIIs) offloading ₹525.95 crore in equities and domestic investors (DIIs) selling ₹237.93 crore, marking their first combined sell-off in over a month, per NSE data.