The two key equity benchmarks, Sensex and Nifty, remained under pressure amid weakness in IT and power stocks closing in red extending earlier losses. However, broader indices outperformed closing higher on Tuesday's trade.


The S&P BSE Sensex closed 184 points (0.31 per cent) down at 59,727. The Nifty ended with 47 points (0.26 per cent) loss at 17,660. 


On the 30-share Sensex platform, Nestle India, HCL Tech, IndusInd Bank, and Wipro was the top gainer. On the flip side, PowerGrid, UltraTech Cement, Reliance, Titan, and HDFC were among the losers.


Among specific stocks on Nifty, PowerGrid, UltraTech Cement, Adani Enterprises, Reliance Industries, and Apollo Hospitals were among the major losers, while gainers included Divis Labs, HCL Technologies, IndusInd Bank, Cipla, and Nestle India.


In the broader markets, the BSE midcap index rose 0.5 per cent, and smallcap index gained 0.2 per cent.


Among sectors, FMCG, power, and infra dragged the market, while pharma and realty were up 1 per cent each, and IT, PSU Bank, and metal were up 0.5 per cent each.


Avalon Tech plunged over 9 per cent against its issue price after a muted debut today. The shares ultimately closed at Rs 397 against the issue price of Rs 436 per share.


Tata Chemicals dropped 6 per cent after the company lowered the price of soda ash. On the other hand, YES Bank and BHEL were among the most active stocks on NSE. 


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In the previous session on Monday, the S&P BSE Sensex ended 520 points lower at 59,911. On the other hand, Nifty50 closed at 17,707, down 121 points.


Global markets rose on Tuesday with US and UK stock futures jumping up to 0.7 per cent. In European equity markets, Euro Stoxx 50 rose 0.53 per cent and FTSE MIB rose 0.25 per cent. 


Britain's FTSE 100 jumped 0.23 per cent. On Wall Street, Dow Jones futures were up 0.18 per cent and the S&P 500 futures rose 0.34 per cent. 


Elsewhere in Asia, markets recover slightly after China's economy data showed a faster-than-expected recovery from the crippling pandemic lockdowns, according to a Reuters report.  The loss in MSCI's largest index of Asia-Pacific equities barring Japan was 0.2 per cent. IT had dipped over 0.4 per cent earlier in the session. Early on Tuesday, the blue-chip CSI300 Index in China increased 0.3 per cent while Hong Kong's Hang Seng Index fell 0.4 per cent. 


The first quarter of China's economy saw growth of 4.5 per cent year over year, exceeding the predictions of the majority of economists.


Brent crude fell 0.3 per cent, to $84.48 a barrel by 0908 GMT, giving up early gains. The US West Texas was down 0.4 per cent, to $80.53.


The Rupee closed the session lower at 82.04 per dollar on Tuesday against Monday's close of 81.97.