Market Wrap: D-Street falls for 8th straight session on FMCG, IT sell-off; Sensex drops 97 points, Nifty below 24,650 – News Air Insight

India’s heartbeat indices Nifty and the BSE Sensex ended negative on Tuesday recording their eighth successive loss led by selling pressure in consumer, realty and IT stocks though auto, banks and metals capped the declines. Trade remained lackluster, with the Nifty moving in a narrow 140-point range and the Sensex confined to 470 points.

Nifty today ended at 24,611.10, down 23.80 or 0.10% while the 30-stock Sensex settled at 80,267.62, falling 97.32 points or 0.12%.

Top Gainers & Losers

Tata Investment was in the spotlight ending the session with 16% gains and hitting its all-time high of Rs 10,391.50. Ola Electric also closed 5% up at Rs 56.95, breaking its four sessions losing streak amid buying action in auto stocks.

While Nifty closed with minor losses, the breadth remained positive with 28 stocks ending in the green and 22 in the red.

The top five Nifty gainers were Adani Ports, UltraTech Cement, JSW Steel, Tata Motors and Hindalco Industries while the five biggest losers were InterGlobe Aviation, ITC, Bajaj Finserv, Bharti Airtel and Tech Mahindra.

Among 17 Nifty sectoral indices, 7 finished in the green while 10 in the red. The top loser was Nifty Media (1.23%) for the second straight session and was followed by Nifty Consumer Durables (0.87%) and Nifty Realty (0.82%). Nifty IT fell marginally lower at 0.11%.Among the top gainers was Nifty PSU Bank, closing 1.8% up while Nifty Auto and Nifty Bank were 0.40% and 0.32% higher.

Expert View

Commenting on the day’s action, Vinod Nair, Head of Research at Geojit Investments said that the narrow range trade on the monthly expiry day was on account of Reserve Bank of India’s (RBI) policy outcome on Wednesday. The investors exercised caution ahead of the big day.

“The market made an attempt to stabilize after last week’s sustained decline. sectoral performance was mixed, with gains observed in metal and banking stocks, while realty and consumer durables faced selling pressure. Market participants are keenly awaiting the RBI’s commentary for insights into future interest rate trajectories, although a status quo on rates is widely expected. The near-term market outlook remains cautious, with price action likely to stay range-bound. Key developments, particularly regarding tariff policies and the upcoming earnings season, will be crucial in shaping the market’s trajectory beyond the current range,” Nair said.