Mumbai: Weakness in metal and realty stocks outweighed gains in information technology and consumer-focused sectors, leading Indian benchmark equity indices to close lower on Tuesday, snapping a four-session winning streak.
The Sensex fell 104.35 points, or 0.13%, to close at 78,180.72. The Nifty fell 31.65 points, or 0.13%, to close at 24,398.70.
Commenting on the Nifty technical outlook, experts said the 24,500–24,600 region remains an immediate and crucial resistance zone for the coming sessions.
According to analysts, “On the downside, immediate support is expected from the 24,300 level, followed by the 24,200 zone, which remains a key demand area.”
Experts said, “It will be important to hold above these levels to maintain the current bullish structure.” Among Nifty stocks, Titan Company, Tech Mahindra, and HCLTech were the biggest gainers, supported by strength in the IT and consumer durables segments.
The broader market also closed in the red, with the Nifty Midcap index falling 0.3% and the Nifty Smallcap index falling 0.55%.
On the sectoral front, the Nifty IT index outperformed the broader market, while the Nifty Consumer Durables and Nifty FMCG indices also closed with slight gains. In contrast, the Nifty Metal and Nifty Realty indices lagged the benchmarks the most, dragging them down.
Experts said that the decline in metal and realty stocks impacted overall market sentiment, ending the benchmark’s four-day winning streak despite strength in certain technology and consumer stocks. “With concerns over the US-Iran dispute and easing of trade tariffs, the market focus is shifting to Q1FY27 earnings and progress of monsoon. Meanwhile, improving FII inflows and a stable rupee are expected to provide short-term support to overall market sentiment,” said a market expert.
