Sensex, Nifty end lower as metal, realty stocks drag markets
Mumbai — Indian benchmark equity indices ended lower Tuesday, snapping a four-session winning streak as weakness in metal and realty stocks offset gains in information technology and consumer-focused sectors.
The Sensex fell 104.35 points, or 0.13 percent, to close at 78,180.72. The Nifty declined 31.65 points, or 0.13 percent, to settle at 24,398.70.
Market experts said the 24,500 to 24,600 range remains the immediate resistance zone for the Nifty in the coming sessions.
“On the downside, the 24,300 level is expected to provide immediate support, followed by the 24,200 zone, which remains a key demand area,” an analyst said.
“Holding above these levels will be essential to preserve the prevailing bullish structure,” the analyst said.
Among Nifty stocks, Titan Company, Tech Mahindra and HCLTech were among the top gainers, supported by strength in IT and consumer durables shares.
The broader market also ended lower. The Nifty MidCap index fell 0.3 percent, while the Nifty SmallCap index declined 0.55 percent.
Among sectors, the Nifty IT index outperformed the broader market, while the Nifty Consumer Durables and Nifty FMCG indices also showed relative strength. Nifty Metal and Nifty Realty were the biggest laggards, weighing on the benchmarks.
Experts said the decline in metal and realty shares hurt overall market sentiment and ended the benchmarks’ four-day winning streak, even as select technology and consumer stocks remained resilient.
“With concerns around the US–Iran conflict and trade tariffs easing, market focus is shifting towards Q1FY27 earnings and the progress of the monsoon. Meanwhile, improving FII inflows and a stable rupee are expected to provide near-term support to overall market sentiment,” a market expert said. (Source: IANS)
