Indian stock markets closed lower on Tuesday, with investors exercising caution ahead of the US–India trade talks. The Sensex and the Nifty, the benchmark indices, experienced a slight dip as market participants refrained from taking aggressive positions before the crucial discussions between the two countries. The Sensex concluded at 83,627.69, dropping 250.48 points or 0.30%, while the Nifty also ended in the red, slipping 57.95 points or 0.22% to settle at 25,732.30.
“Immediate support is placed at 25,650–25,600; a sustained break below this band could increase downside pressure toward 25,500,” noted an analyst. “On the upside, resistance is seen at 25,800–25,900, with a stronger barrier at 25,950–26,000,” the analyst added. Experts mentioned that a decisive close above this range would be necessary to pave the way towards 26,100 and beyond.
US Ambassador to India Sergio Gor announced that India and the United States were scheduled to engage in trade talks on Tuesday, contributing to the cautious sentiment on Dalal Street. While stocks like Eternal, Tech Mahindra, and ICICI Bank recorded gains, Trent, Larsen & Toubro (L&T), and IndiGo faced losses, dragging the benchmarks into negative territory. The broader market exhibited a mixed trend, with the Nifty Midcap 100 index closing 0.20% lower and the Nifty Smallcap 100 index managing to end 0.60% higher.
In terms of sectors, consumer durables stocks performed poorly, with the Nifty Consumer Durables index falling by 0.89%. Realty stocks also faced pressure, declining by 0.62%, while PSU bank stocks outperformed the market, with the Nifty PSU Bank index rising by 0.78%. Media stocks, on the other hand, witnessed buying interest and closed 0.76% higher. Analysts highlighted that market sentiment remained cautious as investors awaited clarity from the US–India trade talks, which are anticipated to impact the near-term market direction.
