Stock Market Extends Losses; Sensex Falls 308 Points, Nifty Under 24,650 As Caution Prevails Before MPC Decision

Stock Market Today: In the previous trading session on Monday, Indian equity markets started the week on a positive note, with benchmark indices surging in the session

Indian benchmark indices closed lower on Tuesday, extending their losses for the second straight session amid weak global cues and profit booking in key sectors. The BSE Sensex fell 308.47 points, or 0.38 per cent, to settle at 80,710.25, while the NSE Nifty50 declined 73.20 points, or 0.30 per cent, to end the day at 24,649.55. Market sentiment remained cautious as investors weighed global economic concerns and the upcoming RBI MPC on Wednesday.

The market breadth remained weak on Tuesday, with 1,708 stocks advancing, 2,184 declining, and 143 remaining unchanged on the BSE. Sector-wise, the auto index bucked the trend with a 0.4 per cent gain, while key sectors such as banking, IT, oil and gas, FMCG, and pharma registered losses of around 0.5 per cent each.

The broader markets also ended lower, with the BSE Midcap and Smallcap indices closing with modest declines. On the NSE, major laggards included Infosys, Adani Enterprises, Adani Ports, Reliance Industries, and ICICI Bank. On the other hand, Titan Company, Maruti Suzuki, SBI Life, Trent, and IndusInd Bank emerged as the top gainers.

Ashika Institutional Equities noted, "Indian equity markets traded in a narrow range today, with the Nifty opening flat at 24,720, touching an intraday high of 24,733, and slipping to a low of 24,592. Sectoral trends remained mixed, as Auto and Consumer Durables showed relative strength, while most other sectors ended in the red. Notably, Oil and Gas, Pharma, Construction, and Consumer Goods experienced pronounced weakness. Ahead of tomorrow’s monetary policy announcement, caution prevailed, and banking stocks came under renewed selling pressure during the second half of the session.

"In the derivatives segment, market breadth tilted bearish, as the advance-decline ratio remained negative. Open interest surged in names such as Nuvama, Uno Minda, Paytm, Angel One, and Exide Industries, indicating heightened activity and potential volatility in these stocks. Overall, Participants stayed on the sidelines, awaiting cues from the policy outcome to chart the next market move," it added.

Previous Trading Session

In the previous trading session on Monday, Indian equity markets started the week on a positive note, with benchmark indices surging in the session. The BSE Sensex climbed over 400 points to close comfortably above the 81,000 mark, while the NSE Nifty50 ended the day at 24,723, adding more than 150 points. Investor sentiment was lifted by a combination of domestic and global factors.