Indian stock markets closed sharply lower on Tuesday, as the BSE Sensex dropped 760 points to settle at 78,516, while the NSE Nifty slipped below the 24,400 level.
Technology stocks led the decline after HCLTech gave a weaker-than-expected business outlook. Its shares fell sharply, triggering selling across the sector. Infosys and Tata Consultancy Services (TCS) also came under pressure, dragging benchmark indices lower.
Investors remained cautious amid rising geopolitical tensions linked to developments involving the United States and Iran. Concerns over crude oil prices also weighed on sentiment, as higher oil costs can increase inflation and widen India’s import bill.
Banking and financial shares traded mixed through the session, while profit booking after the recent rally added to market pressure. Traders chose to lock in gains after three straight days of advances.
Despite the broad sell-off, some heavyweight stocks provided support. Reliance Industries saw buying interest, while select industrial and mid-cap counters also remained firm. Their gains helped limit deeper losses in the benchmark indices.
Market experts said volatility may continue in the near term as investors track global tensions, oil prices, foreign fund flows and quarterly earnings announcements. Upcoming results from major companies are expected to influence market direction in the coming sessions.
Broader markets showed resilience compared to frontline indices, with selective buying in mid-cap and small-cap shares. This suggests domestic investors are still looking for opportunities despite uncertainty in global markets.
Analysts believe that if crude prices stabilise and global tensions ease, Indian markets could recover. However, continued weakness in technology stocks and foreign investor selling may keep sentiment cautious in the short term.
Also Read: YouTube lets users turn off shorts