MUMBAI, India — Indian equity markets closed lower on Tuesday as investors adopted a cautious stance ahead of scheduled U.S.–India trade talks, with selling pressure concentrated in consumer durables and real estate stocks.
Benchmark indices traded in a narrow range through the session, reflecting reluctance among market participants to take aggressive positions before clarity emerges from the bilateral discussions.
The Sensex ended at 83,627.69, down 250.48 points, or 0.30 percent. The Nifty also finished in the red, slipping 57.95 points, or 0.22 percent, to close at 25,732.30.
“Immediate support is placed at 25,650–25,600; a sustained break below this band could increase downside pressure toward 25,500,” an analyst said.
“On the upside, resistance is seen at 25,800–25,900, with a stronger barrier at 25,950–26,000,” the analyst added, noting that a decisive close above this range would be needed to open the path toward 26,100 and higher levels.
Sentiment remained guarded after U.S. Ambassador to India Sergio Gor said on Monday that trade talks between India and the United States were set to take place on Tuesday, adding to uncertainty on Dalal Street.
Among Sensex constituents, Eternal, Tech Mahindra, and ICICI Bank were the top gainers, providing limited support to the index. However, declines in Trent, Larsen & Toubro, and IndiGo weighed on the benchmarks and pulled the market lower.
The broader market delivered a mixed performance. The Nifty Midcap 100 index closed 0.20 percent lower, while the Nifty Smallcap 100 index outperformed, rising 0.60 percent.
Sectorally, consumer durables stocks were among the worst performers, with the Nifty Consumer Durables index falling 0.89 percent. Realty stocks also remained under pressure, with the sector down 0.62 percent.
In contrast, PSU bank stocks outperformed the broader market, with the Nifty PSU Bank index gaining 0.78 percent. Media stocks also attracted buying interest and ended 0.76 percent higher.
Analysts said overall market sentiment remained cautious as investors awaited signals from the U.S.–India trade talks, which are expected to shape near-term market direction. (Source: IANS)
