Sensex Falls 493 Points, Nifty Drops 133 Points Amid Global Tensions
MUMBAI — Indian stock markets extended their losses on Tuesday, with the Sensex and Nifty closing lower amid heightened geopolitical tensions and weakness in several key sectors.
The Sensex fell 493 points, or 0.63%, to close at 77,235.46, while the Nifty dropped 132.75 points, or 0.55%, to 24,154.90.
Tata Motors Passenger Vehicles, Asian Paints and Infosys were among the biggest losers on the Nifty.
Broader markets also remained under pressure, with the Nifty MidCap index falling 0.43%, while the Nifty SmallCap index ended largely unchanged.
Among sectors, IT, realty and public-sector banking stocks were among the biggest drags on the benchmarks. The Nifty Auto index, however, was the best-performing sector of the session.
Market experts said investor sentiment remained cautious as traders assessed ongoing geopolitical tensions and the potential impact of elevated crude oil prices and higher input costs on corporate earnings.
Although domestic economic fundamentals remain supportive, analysts said persistent cost pressures could weigh on recent earnings upgrades and keep investors cautious in the near term.
From a technical perspective, analysts said the 24,300 level is likely to act as immediate resistance for the Nifty. A sustained move above that level could support a recovery toward the 24,400-24,500 range.
On the downside, 24,150 is seen as immediate support. A decisive break below that level could increase selling pressure and push the index toward the 24,000 mark.
Meanwhile, the Indian rupee traded largely flat near 95.67 against the US dollar. Analysts expect the currency to trade in the 95.25-95.85 range in the near term. (Source: IANS)
