Indian stock markets traded lower on Tuesday as weak global signals, rising crude oil prices and foreign investor selling hurt market sentiment. The BSE Sensex fell more than 450 points in early trade, while the NSE Nifty slipped below the 23,700 mark.
IT stocks led the decline, with Infosys, TCS, HCLTech and Tech Mahindra falling sharply during the session. Concerns over slowing global demand and weakness in international technology markets dragged the sector lower. The Nifty IT index was among the worst-performing sectoral indices of the day.
Investors also remained cautious because of rising tensions in the Middle East and increasing crude oil prices. Analysts said higher oil prices could raise inflation concerns for India and affect company earnings in the coming months.
Despite the weak market, a few stocks managed to post gains. ONGC and Oil India were among the top gainers as higher crude oil prices boosted sentiment in energy shares. Banking stocks such as SBI also saw buying interest and helped limit deeper losses in the market.
The broader market remained under pressure, with more stocks declining than advancing on both the BSE and NSE. Foreign institutional investors continued to sell Indian equities, adding to market volatility.
Several stocks remained in focus during the day. Shares of investment platform Groww attracted attention after reports said existing investors may sell stakes worth around Rs 4,750 crore through block deals. Dr Reddy’s and Waaree Energies also witnessed active trading.
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