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Indian benchmark equity indices ended marginally lower on Tuesday as investors remained cautious due to geopolitical uncertainties and booked profits after the recent market rally.
The BSE Sensex settled at 77,470.11, down 238.41 points or 0.31 per cent, while the NSE Nifty 50 closed at 24,187.70, losing 50.80 points or 0.21 per cent. Among the sectoral indices on the NSE, Nifty Auto gained 0.93 per cent, Nifty Metal rose 0.63 per cent, Nifty Pharma advanced 0.34 per cent and Nifty Private Bank edged up 0.07 per cent. On the downside, Nifty PSU Bank fell 0.88 per cent, Nifty IT declined 0.61 per cent, Nifty FMCG slipped 0.31 per cent, Nifty Financial Services lost 0.16 per cent and Nifty Media eased 0.04 per cent. Shriram Finance was the top gainer on the Nifty, rising 2.77 per cent. It was followed by Bajaj Finserv, Eicher Motors, UltraTech Cement and HCL Technologies. HDFC Bank, Infosys, SBI, TCS and Reliance Industries were among the top losers. Riyank Arora, Associate Vice President - HNI & Derivatives, Hedged.in, said, "Today's decline was relatively modest and appears to be driven by profit booking after the recent rally rather than any significant deterioration in market sentiment. As long as benchmark indices continue to hold above their immediate support levels, the broader outlook remains constructive. Traders may continue to adopt a buy-on-dips strategy while maintaining disciplined risk management." Commenting on the broader market, Vinod Nair, Head of Research, Geojit Investments Limited, said, "Despite geopolitical challenges, midcaps are performing well in anticipation of strong corporate earnings, supported by demand-led business updates. While this segment's elevated valuations compared to large caps warrant caution, underlying business conditions are expected to remain healthy at least through H1FY27." He added that the broader market continues to trade in a mixed range, reflecting the underperformance of large-cap stocks amid moderating inflows and rising geopolitical risks. At the time of reporting, Brent crude was trading at USD 89.33 per barrel, while the Indian rupee was trading at Rs 96.24 against the US dollar. Among Asian markets, Japan's Nikkei 225 gained 2.92 per cent, South Korea's KOSPI rose 3.43 per cent, Taiwan's Weighted Index advanced 4.03 per cent and Singapore's Straits Times added 0.51 per cent. Hong Kong's Hang Seng index ended marginally lower by 0.03 per cent. (ANI)
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