Indian equities began Tuesday’s session on a weak note, with the Sensex falling over 500 points and the Nifty breaching the 24,100 level. Investor sentiment remained subdued amid weak global markets, rising geopolitical tensions and caution ahead of key corporate earnings.
The day’s decline was driven by renewed concerns over escalating tensions involving the US and Iran, which pushed crude oil prices higher and raised fears of inflationary pressures. The uncertainty prompted investors to trim exposure to riskier assets, resulting in selling across metal, consumer and financial stocks. Volatility remained high throughout the trading session as traders reacted to both global and domestic developments.
Information technology stocks, however, offered some relief to the markets. HCL Technologies emerged among the top gainers after attracting strong buying interest, while Tata Elxsi also advanced on optimism surrounding its business outlook and investor expectations ahead of quarterly earnings. The resilience in select IT counters helped limit the overall decline in benchmark indices.
On the other hand, Trent and Tata Steel were among the biggest losers of the day. Metal stocks came under pressure amid concerns over global demand and commodity price fluctuations, while profit booking in consumer-facing companies added to the market’s weakness. Broader markets mirrored the negative trend, with several mid-cap and small-cap stocks ending in the red.
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