Sensex closes 624 points lower, Nifty below 24,900; IndusInd Bank ends 3% up
Benchmark stock market indices closed lower on Tuesday, dragged by a decline in IT, auto, and FMCG sector stocks as investors booked profit after the rally in the past 2 sessions.The S&P BSE Sensex lost 624.82 points to end at 81,551.63, while the NSE Nifty50 was down by 174.95 points to close at 24,826.20.Vinod Nair, Head of Research, Geojit Investments Limited, said that the domestic market witnessed volatility and snapped a two-day rally, as investors opted for profit booking driven by valuation concerns and weakness across Asian markets.advertisement
"The benchmark index once again failed to decisively breach the 25k resistance level, reflecting the absence of positive triggers," he added.Market concluded today's session on a predominantly negative note, with only a handful of stocks managing to end in positive territory.IndusInd Bank emerged as the top performer, gaining 2.60% by market close, followed by Sun Pharmaceutical Industries, which advanced by 0.42%. Adani Ports and Special Economic Zone showed resilience with a 1.34% uptick, while Nestle India and Asian Paints posted modest gains of 0.33% and 0.06% respectively.UltraTech Cement faced the biggest decline, dropping 2.21% during the session. ITC was under significant pressure, falling 2.01%, while Tata Motors retreated by 1.73%. Axis Bank declined by 1.59%, and NTPC rounded out the top five losers with a drop of 1.40%.advertisementBroader markets concluded the trading session marginally higher, though volatility remained elevated. Nifty Midcap100 managed a modest gain of 0.15% while Nifty Smallcap100 advanced by 0.10%. However, the India VIX surged by 2.85%, reflecting increased market uncertainty and investor anxiety.Most sectoral indices closed in negative territory, indicating widespread selling pressure across various segments.Nifty FMCG faced the steepest decline of 0.88%, followed by Nifty IT which dropped 0.75% and Nifty Auto falling 0.70%. Other notable losers included Nifty Oil & Gas down 0.58%, Nifty Private Bank declining 0.46%, Nifty Metal retreating 0.44%, Nifty Financial Services slipping 0.41%, Nifty Consumer Durables falling 0.30%, Nifty Media dropping 0.09%, and Nifty Healthcare Index declining marginally by 0.05%.However, some sectors managed to post gains with Nifty Realty leading the positive pack with a rise of 0.24%, while Nifty Pharma advanced 0.11% and Nifty PSU Bank gained 0.26%."Nifty50 continues to trade within a broad range of 24,500–25,060, and a decisive breakout beyond this band, supported by strong follow-through momentum, is crucial to establish a clear directional trend," said Aditya Gaggar, Director of Progressive Shares.
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