Synopsis : Indian equities extended their losing streak as the Sensex slipped over 340 points and the Nifty hovered near 25,450 amid rising global tensions and weak broader markets. Realty, IT and auto stocks led the decline, while mid- and small-cap indices dropped over 1% each.
Indian stock markets continued to face selling pressure on Tuesday, extending losses after opening marginally lower. Investor sentiment remained cautious as global geopolitical tensions intensified, while stock-specific action was driven by the ongoing Q3 earnings season.
Around late morning, the BSE Sensex was trading near 82,882, down about 364 points or 0.44%, while the NSE Nifty50 hovered around 25,450, slipping 135 points or 0.53%. The weakness reflected broad-based selling across sectors and heavy profit booking in large-cap stocks.
Heavyweight Stocks Drag the Market
Several frontline stocks were under pressure, including Bajaj Finance, IndiGo, Asian Paints, Bajaj Finserv, Tech Mahindra, Trent, Bharti Airtel, Sun Pharma, TCS, Power Grid, HCL Technologies, Axis Bank, HDFC Bank, and Infosys, with losses extending up to 3%. Persistent selling in financials and IT names weighed heavily on the benchmarks.
Broader Markets See Sharper Cuts
The broader market underperformed the frontline indices. The Nifty MidCap index declined around 1.31%, while the Nifty SmallCap index slipped nearly 1.28%, highlighting a clear risk-off mood among investors and reduced appetite for high-beta stocks.
Realty, IT and Auto Lead Sectoral Declines
All sectoral indices were trading in the red. The Nifty Realty index plunged over 2%, making it the worst-performing sector of the day. This was followed by declines in the Nifty IT index (down around 1.3%) and the Nifty Auto index (down nearly 0.9%), as concerns over global demand and margin pressures persisted.
Primary Market Activity Remains Active
Despite market volatility, activity in the primary market remained steady. In the mainboard segment, the IPO of Shadowfax Technologies opened for subscription. In the SME space, the Aritas Vinyl IPO closed today, while Digilogic Systems opened its issue. Additionally, Avana Electrosystems debuted on the SME platform, drawing attention from retail investors.
Outlook
With global uncertainties weighing on sentiment and earnings season in full swing, markets are expected to remain volatile in the near term. Analysts advise investors to stay selective, focus on quality stocks, and maintain a cautious approach until clearer global and domestic cues emerge.
Disclaimer : This article is for informational purposes only and does not constitute financial advice. Stock market investments are subject to market risks. Readers should consult a qualified financial advisor before making any investment decisions.
