Escalating international tensions triggered a cautious start for Indian markets on Tuesday, with the Sensex opening lower by 214 points or 0.26 percent at 83,032. The Nifty 50 followed suit, declining 77 points or 0.3 percent to 25,508 early in the session.
Quarterly results provided fleeting optimism in select stocks, but failed to stem the tide of broader declines. Nifty Midcap index fell 0.51 percent, and Smallcap shed 0.65 percent, underscoring widespread pressure.
Sector-wise, Realty bore the brunt with a 1.3 percent plunge, trailed by IT’s 0.77 percent drop and Pharma’s 0.45 percent retreat. Conversely, PSU Banks rose 0.86 percent, and Metal stocks advanced 0.48 percent.
Losers dominated the Sensex leaderboard, featuring InterGlobe, Bajaj Finance, Asian Paints, Bajaj Finserv, Trent, HCL Tech, and Tech Mahindra. Top performers included Kotak Mahindra Bank, SBI, UltraTech Cement, ITC, Hindustan Unilever, and NTPC.
Veteran market watchers point to soft earnings expectations, sustained outflows, and renewed geopolitical flare-ups as key drags. Post-Monday’s weakness across largecaps and the broader market, sentiment leans defensive amid looming global and local milestones.
Nifty faces resistance at 25,700-25,750, a level that’s thwarted multiple recoveries. Key support rests at 25,400-25,450; slipping below might accelerate sell-offs toward 25,300-25,350.
A marginal rise in India VIX hints at persistent fluctuations, fueled by worldwide economic signals and risk-hedging moves. As stakeholders monitor developments closely, the session promises intrigue and potential pivots.