Indian equity benchmarks corrected a per cent each in Tuesday’s session as Trump’s tariff deadline approaches. The Nifty 50 closed the session 255 points or 1% lower at 24,712, and the Sensex corrected 850 points or 1.04% to end at 80,786.
Similarly, the Nifty Bank was in line with the overall market, settling 690 points or 1.25% lower at 54,450. The midcap stocks also surged. The BSE Midcap declined 615 points, or 1.34%, at 45,322.02. On the other hand, the BSE Smallcap finished 892 points or 1.68% lower at 52,097.59.
“Domestic market sentiment turned cautious as the US penalty tariff deadline expires tomorrow. The persistent depreciation of the INR is adding pressure and may further impact foreign institutional inflows. Investors are closely monitoring the GoI’s efforts to support economic growth, including proposed GST rate revisions and sector-specific relief measures for industries affected by higher tariffs. Broad-based selling was observed across sectors, except for FMCG, which gained on expectations of increased consumption,” said Vinod Nair, Head of Research at Geojit Investments.
“Technically, after a gap-down open, the market breached the crucial support zone of 24,850, and post-breakdown, selling pressure intensified. Additionally, it also formed a long bearish candle on the daily charts and is holding a lower top formation on intraday charts, which is largely negative. We believe that the intraday market texture is weak, but a fresh selloff is possible only after the dismissal of the 24,650,” said Shrikant Chouhan, Head of Equity Research at Kotak Securities.
5 big highlights from today’s market action-
Indices in intraday trade
The indices closed Monday’s session on a negative note. During the session, out of 3,084 trading stocks, 718 advanced, while 2,286 declined, and 80 remained unchanged. Today, 52 stocks hit a fresh 52-week high. Meanwhile, 68 stocks touched a new 52-week low.
Top gainers
Eicher Motors was the top gainer in the Nifty 50 in Tuesday’s session, closing 2.68% higher. It was followed by Hindustan Unilever, Maruti Suzuki, ITC, and Nestle India.
Top losers
Shriram Finance’s shares were the biggest losers in today’s trade, declining 4%. It was followed by Sun Pharmaceutical Industries, Tata Steel, Bajaj Finance, Trent, and many others.
Top sectors in Tuesday’s trade
The Textile sector’s stocks fell the most in Tuesday’s trade, falling 3% in the market capitalisation. Mining stocks were followed by Fertilisers, which was further followed by the Tyres sector stocks. The Paper sector stood behind the Capital Market sector. However, the Food Processing sector stocks rose in today’s strong trade.