Indian stock markets faced a muted session on Tuesday, with key indices finishing in the red as investor sentiment turned cautious amid escalating geopolitical tensions and global cues. A modest opening gave way to sustained selling pressure, driven largely by concerns over developments between India and Pakistan.
Market Snapshot: Nifty Falls, Bank and Realty Stocks Drag
The NSE Nifty dropped 81.55 points, or 0.33%, to close at 24,379.60, while the BSE Sensex declined 155.77 points, or 0.19%, ending at 80,641.07. Market breadth was firmly negative, with the BSE MidCap and SmallCap indices plunging 2.16% and 2.33%, respectively, underlining the widespread weakness.
Of the 30 Sensex constituents, 19 ended in negative territory. Heavyweights like Tata Motors, SBI, Adani Ports, NTPC, and Eicher Motors were among the worst performers, shedding up to 3.08%. On the flip side, Bharti Airtel, Hindustan Unilever, Mahindra & Mahindra, Nestle, and Tata Steel managed to eke out gains, climbing up to 1.66%.
Sector-wise, the market was broadly subdued. Notably, the Nifty Auto index stood out as the lone gainer, adding 0.17%, supported by a slight uptick in select auto stocks. Meanwhile, PSU Banks, Realty, Media, and Consumer Durables bore the brunt of the sell-off. The advance-decline ratio on the BSE stood at a stark 786:3,154, with 78 stocks touching 52-week lows.
Volatility Rises as Markets Eye Fed Outcome, Indo-Pak Tensions
Technical analysts observed that the Nifty formed a bearish candlestick on the daily chart, signaling resistance around the 24,500 mark. “There’s visible hesitation among traders, driven by the dual headwinds of the Fed’s policy outcome and rising Indo-Pak tensions,” said Vatsal Bhuva, technical analyst at LKP Securities.
The index briefly touched an intraday high of 24,509 but failed to hold ground, slipping to a low of 24,355. The second half of the session remained mostly range-bound, lacking clear momentum. Bhuva pointed out that key support lies in the 24,200–24,250 zone. A decisive move beyond 24,500 or below 24,200 may determine the next directional trend, he added.
Meanwhile, India’s volatility index, India VIX, spiked 3.58% to 19, highlighting growing nervousness among market participants. On the derivatives front, only 33 stocks advanced against 189 declines—reinforcing the weak undertone.
Overall, market sentiment remains fragile. While select auto stocks offered some support, broader market trends suggest investors are bracing for further volatility, especially as macro and geopolitical factors continue to evolve.