Indian share markets dawned bearish on Tuesday against a backdrop of intensifying global strife, as the BSE Sensex dropped 214 points or 0.26 percent to 83,032. Paralleling this, Nifty 50 eased 77 points or 0.3 percent to 25,508 in initial hours.
While Q3 outcomes stirred activity in certain names, they couldn’t offset the prevailing pessimism. Midcaps declined 0.51 percent and smallcaps 0.65 percent on the Nifty.
Realty sector plummeted 1.3 percent, with IT down 0.77 percent and Pharma off 0.45 percent. Gains in PSU Banks at 0.86 percent and Metals at 0.48 percent offered counterbalance.
Sensex laggards included IndiGo, Bajaj Finance, Asian Paints, Bajaj Finserv, Trent, HCL Tech, and Tech Mahindra. Leaders were Kotak Mahindra, SBI, UltraTech Cement, ITC, HUL, and NTPC.
Experts warn that tepid quarterly cues, relentless selling, and geopolitical uncertainties are eroding optimism. After yesterday’s downturn, markets adopt a prudent stance before pivotal events unfold.
Nifty’s near-term hurdle is 25,700-25,750, consistently resisting advances. Support at 25,400-25,450 is pivotal; violation could spur deeper corrections to 25,300-25,350.
India VIX’s slight increase points to ongoing volatility risks from global factors and safety-first tactics. The trading day holds potential for shifts as new information emerges.