Sensex, Nifty Close Nearly 0.5% Lower as Realty, FMCG Stocks Weigh
Mumbai — Indian benchmark stock indices ended lower Tuesday as losses in real estate, consumer goods and cement shares offset relative strength in parts of the broader market.
The Sensex fell 388.19 points, or 0.49%, to close at 78,154.25, while the Nifty dropped 112.10 points, or 0.46%, to finish at 24,471.70.
Investor sentiment remained cautious amid renewed geopolitical uncertainty following signs that negotiations between the United States and Iran had reached an impasse, raising concerns about energy markets and global risk appetite.
Market analysts said the 24,400 level is emerging as an important near-term support zone for the Nifty. A sustained break below that level could open the door to a further decline toward 24,300.
On the upside, 24,500 is expected to act as immediate resistance, while the broader 24,600 to 24,700 range remains a more significant hurdle. Analysts said a sustained move above 24,700 would be needed to restore stronger bullish momentum.
Among Nifty stocks, Tata Consumer Products, Max Healthcare Institute and UltraTech Cement were among the biggest losers of the session.
Broader markets performed better than the headline indices. The Nifty MidCap index slipped just 0.02%, while the Nifty SmallCap index gained 0.22%.
Sectorally, cement stocks led the declines, followed by FMCG, real estate and metal shares. Pharmaceutical stocks moved in the opposite direction, with the Nifty Pharma index emerging as the session’s strongest-performing sector as investors turned toward defensive shares.
Investors are now looking ahead to U.S. Consumer Price Index data due Wednesday, which could influence expectations for interest rates and provide fresh direction for global markets. (Source: IANS)
