MUMBAI, India — Indian equity markets ended sharply lower on Tuesday, extending recent losses as investors remained cautious amid rising global tensions and continued to assess company-specific developments during the ongoing third-quarter earnings season.
Benchmark indices faced sustained selling pressure throughout the session. The Sensex closed at 82,180.47, down 1,065.71 points, or 1.28 percent. The Nifty ended at 25,232.5, slipping 353 points, or 1.38 percent.
“On the daily chart, the index appears to be drifting towards the 200-DMA. Immediate support is seen around 25,100–25,150. If this level holds, a decent pullback can be expected,” an expert said.
Selling was broad-based across frontline stocks, with HDFC Bank the only Sensex constituent to finish in positive territory. Bajaj Finance, Eternal, Sun Pharma and IndiGo were among the key stocks weighing on the indices.
Trent, Asian Paints, Mahindra and Mahindra, Bajaj Finserv, Tata Steel and Tech Mahindra also ended sharply lower on the Sensex.
Sectoral indices posted widespread declines. The Nifty Realty index led losses, plunging more than 5 percent, followed by the Nifty Auto index, which fell 2.56 percent, and the Nifty IT index, down 2.06 percent.
Broader markets underperformed the benchmarks. The Nifty Midcap index dropped 2.62 percent, while the Nifty Smallcap index slid 2.85 percent.
Market participants said the sharp decline reflected heightened investor nervousness driven by uncertain global cues and cautious positioning ahead of additional corporate earnings announcements.
Meanwhile, the rupee traded largely flat near 90.90 against the dollar, as geopolitical tensions among NATO members and uncertainty surrounding U.S. interests in Greenland, linked to its rare-earth resources, kept sentiment subdued.
“The currency remains range-bound with participants awaiting fresh triggers from the Union Budget due in February, while the U.S. Federal Reserve’s policy decision later this month is expected to add volatility,” an analyst said.
“The rupee is likely to trade between 90.45 and 91.45 in the near term,” the analyst added. (Source: IANS)
