Indian benchmark indices closed Tuesday’s session almost flat, with a slight negative bias. While PSU banks, metal, and auto stocks saw gains, selling pressure was observed in IT, FMCG, realty, and pharma shares. The Sensex concluded at 84,675.08, down 0.02%, and the Nifty settled marginally lower at 25,938.85, a decrease of 0.01%.
The Nifty slipped below the 21 EMA, indicating a short-term downtrend, with immediate support in the 25,850–25,870 zone, according to market analysts. They mentioned that a decisive break below this level could heighten bearish sentiment, while resistance was noted at 26,000. Market sentiment was cautious as investors balanced sector-specific buying with profit booking in select heavyweights.
On the Sensex, stocks like Eternal, Infosys, Asian Paints, UltraTech Cement, and Bajaj Finance were among the top losers, exerting pressure on the index. Conversely, M&M, Tata Steel, Bajaj Finserv, and Axis Bank provided support and closed higher. The broader market also displayed mild weakness, with the Nifty Midcap 100 index down by 0.15% and the Nifty Smallcap 100 declining by 0.28%.
Real estate, IT, and pharma stocks faced pressure, with the Nifty Realty index dropping by 0.84%, and the Nifty IT and Pharma indices declining by 0.74% and 0.17%, respectively. In contrast, there was strong buying in PSU bank, metal, and auto stocks, with the Nifty PSU Bank index surging by 1.69%, the Nifty Metal index rising by 2.03%, and the Nifty Auto index gaining 1.08%.
Market analysts noted that the day ended with selective buying, driven by sectoral trends rather than broad-based participation. They highlighted that fresh buying at lower levels, coupled with short covering in banking, auto, and metal stocks post the expiry of monthly derivative contracts, aided the Nifty in recovering most of its intraday losses and closing the session largely flat.
