Mediaeye News
Mumbai: Indian benchmark indices closed in the red on Tuesday, pressured by losses in IT shares and cautious investor positioning ahead of the crucial US-Iran talks in Doha, which could shape global market sentiment.
The Nifty declined 80.50 points, or 0.34 per cent, to close at 23,865.75. The Sensex also slipped 249.70 points, or 0.33 per cent, to settle at 76,478.67.
Commenting on Nifty technical outlook, experts said that the 24,000 zone now emerges as the immediate resistance area.
“A sustained move above this band will be essential to revive bullish momentum and could pave the way for a recovery towards the 24,100–24,200 region,” an analyst stated.
“On the downside, the 23,800 level remains the immediate support, holding above these levels will be crucial to prevent further weakness and preserve the broader recovery structure,” a market expert mentioned.
Within the Sensex pack, Maruti Suzuki, Titan, Bajaj Finance, Eternal, and Adani Ports were among the leading gainers.
In contrast, Infosys, Tata Consultancy Services, HCL Technologies, Tech Mahindra, and Hindustan Unilever featured among the biggest losers on the same benchmark.
Despite the weakness in the headline indices, broader markets outperformed. The Nifty MidCap index ended 0.37 per cent higher, while the Nifty SmallCap index gained 1.02 per cent.
Among sectoral indices, the Nifty IT, Nifty Media, and Nifty PSU Bank emerged as the top losers, dragged down by selling pressure in technology and banking stocks.
On the other hand, the Nifty Realty, Nifty Consumer Durables, and Nifty Chemical indices finished in positive territory, supported by sector-specific buying.
Market experts said that investors also remained on the sidelines as they awaited the outcome of the US-Iran talks in Doha, with global geopolitical developments continuing to influence market sentiment.
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–IANS
