Sensex Falls 104 Points, Nifty Closes Below 24,400 After Four-Day Rally

KEY TAKEAWAYS:

Sensex declined 104.35 points to close at 78,180.72, while Nifty slipped 31.65 points to 24,398.70.
IT stocks outperformed, but Realty, Metal and Pharma sectors ended sharply lower.
Trent plunged more than 12%, while the BSE market capitalisation fell below Rs 480 lakh crore.

MUMBAI: The Sensex falls 104 points story marked the end of a four-session winning streak for Indian equity benchmarks on Tuesday. Despite opening on a positive note, both the Sensex and Nifty surrendered early gains as investors booked profits in several heavyweight stocks.

The BSE Sensex settled 104.35 points, or 0.13%, lower at 78,180.72, while the NSE Nifty 50 closed down 31.65 points, or 0.13%, at 24,398.70. The decline also reduced the total market capitalisation of BSE-listed companies to below Rs 480 lakh crore, compared with Rs 482.3 lakh crore in the previous session.

Sensex Falls 104 Points as Sectoral Performance Remains Mixed

Sector-wise trading remained uneven throughout the session. Information technology stocks provided support to the broader market, while realty and metal shares witnessed heavy selling pressure.

Top Gaining Sectors

Nifty IT gained 2.43%
Nifty Consumer Durables rose 0.89%
Nifty FMCG edged up 0.06%

Top Losing Sectors

Nifty Realty declined 1.58%
Nifty Metal fell 1.10%
Nifty Pharma lost 0.73%
Nifty Bank slipped 0.16%

Overall, 31 of the 50 Nifty constituents ended the session in negative territory.

Trent Leads Losers While IT Stocks Shine

Trent emerged as the biggest drag on the benchmark index, tumbling 12.6% during the session. Kalyan Jewellers India also witnessed sharp selling, falling 6.5% after its June-quarter operational update.

Other notable losers included Cochin Shipyard, which declined around 5%, while capital market stocks such as BSE, MCX and Angel One also closed in the red.

On the positive side, IT companies led the recovery attempt. HCL Technologies, Tech Mahindra and Infosys finished among the top gainers, helping limit losses in the benchmark indices.

Rupee Strengthens as Gold Prices Extend Losses

The Indian rupee appreciated by nearly 45 paise, ending around 94.95 against the US dollar. The currency gained after reports indicated that Saudi Arabia had reduced crude oil prices for Asian buyers, improving sentiment around India’s import outlook.

Meanwhile, precious metals remained under pressure. MCX Gold declined by nearly Rs 1,550 to around Rs 1,45,300, tracking weakness in international bullion prices.

Although IT stocks continued to attract buying interest, broad-based profit booking across several sectors prevented the market from extending its recent rally. Investors will now watch upcoming corporate earnings, global market trends and macroeconomic developments for fresh direction in the coming sessions.

Also Read | CBI Files First Chargesheet in RCFL Case Over Alleged Rs 4,097 Crore Bank Fraud

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