Share Market Erases All Gains, Sensex Ends Over 350 Points Lower, Nifty Closes Under 24,500

In contrast, the GIFT Nifty displayed strength earlier in the morning, suggesting the possibility of an extension of Monday’s rally.

A tariff truce extension between the US and China lifted hopes that bilateral relations between the two countries can still be saved from deteriorating beyond repair.

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The Indian markets on Tuesday erased all gains made in the previous session and ended trading heavily in red. The BSE Sensex closed the session at 80,236, crashing more than 350 points, while the NSE Nifty50 settled for the day under 24,500, declining nearly 100 points.

On the 30-share Sensex, Maruti, Tech M, M&M, NTPC, and Sun Pharma closed among gainers. On the other hand, Bajaj Finance, Trent, HUL, Eternal, and HDFC Bank settled in red.

In the broader markets, the Nifty Financial Services index bled over 1 per cent. Sectorally, the Financial Services 25/50 index closed the day 0.90 per cent lower, while the Pharma index settled higher by 0.69 per cent.

How Did Markets Open Today?

Notably, the equities started Tuesday’s session on a subdued note, with both key indices opening in the red. The Sensex slipped nearly 150 points at the open, beginning trade at 80,463, while the Nifty50 was down 34 points at 24,550 as of 9:15 AM.

Markets remained on the lookout for inflation data for July, scheduled to be released today. Further, a tariff truce extension between the US and China lifted hopes that bilateral relations between the two countries can still be saved from deteriorating beyond repair. The development lifted sentiment in the global markets and led to a recovery in oil prices.

In contrast, the GIFT Nifty displayed strength earlier in the morning, suggesting the possibility of an extension of Monday’s rally. By 8:58 AM, it had gained more than 70 points, trading above the 24,620 level. In the pre-open trade, the Sensex briefly edged up by around 40 points to approach 80,650, whereas the Nifty declined by over 20 points, hovering near 24,563 as of 9:04 AM.

The positive cues came after a robust performance in the previous session. On Monday, benchmark indices recorded notable gains, with the Sensex rallying nearly 750 points to close above 80,600 and the Nifty50 adding close to 200 points to settle past the 24,550 mark.