MUMBAI– Indian equity markets ended lower on Tuesday as widespread profit-booking pulled down key indices after recent gains. Both the Sensex and Nifty slipped amid selling across sectors, with PSU banks leading the decline.
The Sensex dropped 297.07 points, or 0.36 percent, to close at 82,029.98, while the Nifty shed 81.85 points, or 0.32 percent, to end at 25,145.50.
Analysts said that the 25,300–25,400 zone continues to act as a key resistance for the Nifty, while 25,000 remains an important support level. “A sustained move above 25,300 could revive bullish momentum, but a slip below 25,000 might drag the index toward 24,850–24,700,” market strategists noted.
They added that the market remains range-bound as bulls defend 25,000 and bears stay active near 25,300, with volatility expected to persist until a clear breakout occurs.
Sectorally, selling pressure was broad-based. The Nifty PSU Bank index fell 1.52 percent, followed by declines in Nifty Consumer Durables and Nifty Media. Among individual stocks, Bajaj Finance, Trent, Tata Steel, and Bharat Electronics Limited (BEL) were the top laggards on the Sensex.
In contrast, Tech Mahindra, ICICI Bank, Power Grid, and Hindustan Unilever (HUL) provided some support, ending the session in positive territory.
Broader markets reflected the weak sentiment, with the Nifty MidCap 100 down 0.75 percent and the Nifty SmallCap 100 slipping 0.89 percent.
Analysts expect continued volatility in the short term as traders roll over positions ahead of corporate earnings, while global cues and U.S.-China trade uncertainty are likely to shape sentiment.
Meanwhile, the Indian rupee hovered near a record low, pressured by a stronger U.S. dollar and weakness across regional currencies.
“Despite global pressure, the rupee has shown resilience, consolidating in a narrow range due to central bank intervention and steady foreign fund inflows,” currency experts said. “In the near term, USDINR is expected to find support at 88.50 and face resistance at 89.10.” (Source: IANS)
