A sea of red greeted traders as Indian benchmarks opened deep in negative territory Tuesday, hammered by overnight weakness in American markets. Sensex nosedived more than 500 points to hit an intraday low of 82,725 before stabilizing around 82,737—a 0.67% drop.
Nifty followed suit, shedding 154 points or 0.60% to 25,558.80 after opening 71 points lower. The selloff rippled through mid and smallcaps: Nifty Midcap 100 fell 0.72%, Smallcap 100 0.88%, BSE Midcap 150 0.5%, and Smallcap 250 0.6%.
Sectoral carnage was led by IT’s 3.34% plunge, with Auto (-0.54%), FMCG (-0.48%), and Bank (-0.12%) also hurting. Of Sensex’s 30 stocks, 25 declined sharply—HCL Tech, Eternal (IndiGo), Infosys, TCS, Bharti Airtel, and Tech Mahindra topped the loser list. Resilience shone in SBI, Asian Paints, Axis Bank, Power Grid, Tata Steel, and Kotak Bank.
Investor flows offered mixed signals: FIIs bought ₹3,843 crore on Feb 23, turning monthly net positive after selling sprees. DIIs dumped ₹1,292 crore. Analysts warn of volatility spikes from global risks. ‘Stay selective; target quality names on weakness. Sideline aggressive bets,’ advises an expert.
Chart patterns signal caution—Nifty resists at 25,850-25,900, supports at 25,550-25,600. Last session’s gap-up faded fast, hinting at fragility. Sustainable upside needs 26,000 clearance. Prioritize stock-specific plays with stringent risk management for now.