Indian benchmark equity indices closed lower on Tuesday due to a decline in information technology stocks, impacting investor sentiment. Market participants also maintained caution ahead of the scheduled US-Iran talks in Doha later in the day. The Nifty dropped 80.50 points to settle at 23,865.75, while the Sensex slipped 249.70 points to close at 76,478.67.
Experts analyzing the Nifty technical outlook highlighted the 24,000 zone as the immediate resistance area. They emphasized that a sustained move above this level is crucial to revive bullish momentum and potentially lead to a recovery towards the 24,100–24,200 region. On the downside, the 23,800 level was identified as the immediate support to prevent further weakness and maintain the broader recovery structure.
In the Sensex pack, Maruti Suzuki, Titan, Bajaj Finance, Eternal, and Adani Ports were the top gainers, while Infosys, Tata Consultancy Services, HCL Technologies, Tech Mahindra, and Hindustan Unilever were among the major losers. Despite the decline in headline indices, broader markets performed well, with the Nifty MidCap index closing 0.37% higher and the Nifty SmallCap index gaining 1.02%.
Among the sectoral indices, Nifty IT, Nifty Media, and Nifty PSU Bank were the top losers, impacted by selling pressure in technology and banking stocks. Conversely, Nifty Realty, Nifty Consumer Durables, and Nifty Chemical indices ended in positive territory, supported by sector-specific buying. Market experts noted that investors awaited the outcome of the US-Iran talks in Doha, with global geopolitical developments continuing to influence market sentiment.
