Synopsis : Indian equity benchmarks slipped into the red Tuesday morning, with Sensex falling over 200 points and Nifty trading below 24,400, led by declines in pharma stocks and Jio Financial. Mixed global cues and cautious sentiment ahead of major Q4 earnings kept markets subdued.
Markets Slip as Pharma Stocks and Jio Financial Drag Benchmarks Lower
Indian markets began Tuesday’s session on a flat note but quickly reversed course, slipping into negative territory within the first trading hour. By mid-morning, the BSE Sensex had dropped 241.69 points (0.30%) to 80,555.15, while the NSE Nifty declined 80.50 points (0.33%), settling at 24,380.65.
Early optimism, reflected by a modest gap-up opening—Sensex at 80,920.29 and Nifty at 24,468.50—quickly gave way to selling pressure across pharma and financial stocks. The Bank Nifty index remained flat, hovering around 55,979.40.
Market View & Technical Outlook:
Shrikant Chouhan, Head of Equity Research at Kotak Securities, noted that the market has been locked in a range between 24,200 and 24,500 for the past week. A breakout or breakdown from this zone could signal a new trend direction. A close below 24,200 may lead to a drop toward 23,800, while a break above 24,500 could pave the way for a rally to 25,000.
Top Gainers:
M&M
SBI Life
Hindalco
ONGC
Hero MotoCorp
Top Losers:
Cipla
Dr. Reddy’s Laboratories
Sun Pharma
Titan
Maruti Suzuki
Global Market Overview:
Asian markets were mostly closed for Greenery Day, limiting external cues. Australian shares traded flat. On Wall Street, major indices slipped on Friday, ending a 9-day winning streak due to renewed concerns over global trade tensions.
Dow Jones: -98.60 pts (-0.24%)
S&P 500: -0.6%
Nasdaq: -0.74%
Investor Focus on Q4 Earnings:
Investors are keenly awaiting earnings from key companies today, including Bank of Baroda, Paytm, Hindustan Petroleum, Godrej Consumer, Polycab India, and Aarti Drugs.
Disclaimer : This article is for informational purposes only and should not be construed as financial advice. Always consult a professional financial advisor before making investment decisions.
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