By The Sensex dipped 12.99 points, or 0.02%, to close at 76,944.28 on Tuesday, as India’s benchmark indices ended the session marginally lower.
The Nifty50 settled at 24,055.80, down 24.60 points, or 0.1%, holding near the 24,050 level through the day.
Losses in pharmaceutical, banking, auto and realty stocks pulled the indices lower, offsetting gains in IT and FMCG shares.
The slight decline came despite strong GDP data released around the same time, as sector-specific weakness offset the positive macro backdrop.
IT stocks continued to outperform, providing some cushion to the broader market even as the Sensex and Nifty closed in negative territory.
FMCG shares also held up relatively well during the session, providing some counterbalance to the declines in banking and pharma counters.
Markets had been broadly volatile in the days leading up to the session, with sentiment swinging between global cues and domestic sector-specific developments.
Analysts have flagged upcoming domestic earnings commentary and global rate signals as key factors likely to shape near-term direction for the indices.
The Nifty has hovered near the 24,000-24,200 range over recent sessions, with traders watching for a decisive break in either direction.
Sector rotation has been a recurring theme in recent weeks, with gains in one segment of the market frequently offset by weakness in another on the same trading day.
Broader market breadth was mixed during the session, with advances and declines roughly balanced across the wider set of listed stocks beyond the headline indices.
Losses in pharmaceutical, banking, auto and realty stocks weighed on the benchmark indices, offsetting gains posted by information technology and FMCG shares during the session.
The muted close came despite strong GDP data released around the same period, with sector-specific weakness outweighing the broader macroeconomic tailwind.
IT stocks extended their recent run of strength, continuing to outperform the broader market even as other sectors dragged the headline indices lower.
Photo of the National Stock Exchange, Wikimedia Commons, CC BY-SA 4.0
