Indian benchmark equity indices ended Tuesday’s session marginally lower as investors chose to lock in profits after three consecutive days of gains, leading to a pause in the recent upward momentum. The selling pressure was largely driven by weakness in information technology stocks, which saw noticeable profit booking during the session.
The S&P BSE Sensex slipped by 42.64 points to settle at 85,524.84, while the NSE Nifty50 edged down by 4.75 points to close at 26,177.15. Both indices traded within a narrow range for most of the day, reflecting cautious sentiment among market participants following the recent rally.
According to Vinod Nair, Head of Research at Geojit Investments Limited, domestic markets moved sideways and finished almost flat amid mixed signals from global markets. He noted that selling pressure was visible across most sectors, although select pockets such as financials and FMCG stocks provided limited support and helped prevent a sharper decline.
Nair added that investor focus is now gradually shifting toward the upcoming earnings season, while global factors such as evolving expectations around US Federal Reserve policy are also being closely watched. He pointed out that the probability of a rate cut at the Fed’s January meeting is slowly increasing, which could influence market sentiment in the near term.
On the positive side, a handful of heavyweight stocks helped cushion the overall fall. ITC emerged as the top gainer, rising 1.27 percent, followed by UltraTech Cement, which advanced 1.15 percent. Tata Steel gained 1.03 percent, HDFC Bank added 0.94 percent, and NTPC climbed 0.78 percent, collectively limiting the downside in the benchmark indices.
In contrast, losses were more pronounced among technology and select large-cap stocks. Infosys led the declines, falling 1.45 percent, highlighting continued pressure on IT stocks. Bharti Airtel slipped 0.97 percent, Adani Ports dropped 0.95 percent, Sun Pharmaceutical Industries declined 0.93 percent, and Tech Mahindra lost 0.88 percent, reflecting cautious investor positioning.
Looking ahead, Nair said that while improving domestic demand continues to provide underlying support to the market, uncertainty surrounding global trade negotiations and fluctuations in the rupee are likely to remain key factors influencing investor sentiment in the near term.
