The main Indian stock indices slipped on Tuesday, with the Sensex losing about 180 points as foreign investors continued to sell.
Market Snapshot
At around 12:15 p.m., the Sensex was down 180.08 points (‑0.21%) at 84,515.46. The broader Nifty fell 57.55 points (‑0.22%) to 25,884.55.
Earlier in the day the Sensex had climbed about 200 points, reaching an intraday high of 84,802.64, while the Nifty peaked at 25,975.85.
What Drove the Decline
- Foreign fund outflows: Overseas investors sold roughly ₹2,760 crore of Indian equities on Monday, marking the fifth straight day of net selling.
- Weak global cues: Asian markets such as South Korea and Japan closed lower, and US indices also slipped, dampening risk appetite.
- Nifty expiry: Tuesday was both the weekly and monthly expiry for Nifty futures, adding extra volatility as traders closed or rolled over positions.
- Profit‑taking in key sectors: Stocks in IT, pharma and real estate saw selling pressure, extending the decline in the Nifty IT index.
- Rising crude oil: Brent crude edged up to $61.96 per barrel, raising concerns about higher input costs for India, a major oil importer.
- Higher India VIX: The volatility index rose above 9.8, signalling growing uncertainty among investors.
Top Gainers and Laggards
- Losers: Eternal, Max Healthcare and InterGlobe Aviation each fell up to 2%.
- Winners: Shriram Finance and Hindalco Industries rose about 2%.
Overall market breadth was negative, with 1,518 stocks advancing, 2,078 declining and 172 unchanged.
Technical Outlook
Anand James, Chief Market Strategist at Geojit Investments, said the Nifty’s failure to stay above the 26,050‑26,077 range is creating a bias toward the 25,935‑25,850 zone. He added that a clear move above 25,970‑26,000 would be needed to trigger any short‑term upside.
Takeaway
The combination of foreign fund outflows, weak global markets and expiry‑related trading pushed the Sensex and Nifty lower. Retail investors should watch for any bounce above the 26,000 level and stay mindful of the broader risk sentiment.
Remember, this is just an overview, not a prediction. Do your own research before making any investment decisions.