Mumbai:Indian stock markets ended lower on Tuesday as investors remained cautious ahead of the US–India trade talks, with selling pressure seen mainly in consumer durables and realty stocks.
The benchmark indices, the Sensex and the Nifty, slipped in a narrow range as market participants avoided taking aggressive positions before the key discussions between the two countries.
The Sensex closed at 83,627.69, falling 250.48 points or 0.30 per cent. The Nifty also ended lower, slipping 57.95 points, or 0.22 per cent, to settle at 25,732.30.
“Immediate support is placed at 25,650–25,600; a sustained break below this band could increase downside pressure toward 25,500,” an analyst stated.
“On the upside, resistance is seen at 25,800–25,900, with a stronger barrier at 25,950–26,000,” the analyst added.
A decisive close above this range would be required to open room toward 26,100 and above, according to experts.
On Monday, US Ambassador to India Sergio Gor said that India and the United States are set to hold trade talks on Tuesday, adding to the cautious mood on Dalal Street.
Among Sensex stocks, Eternal, Tech Mahindra and ICICI Bank were the top gainers, offering some support to the index.
However, losses in Trent, Larsen & Toubro (L&T) and IndiGo weighed heavily on the market and dragged the benchmarks into negative territory.
The broader market showed a mixed trend. The Nifty Midcap 100 index ended 0.20 per cent lower, while the Nifty Smallcap 100 index managed to close 0.60 per cent higher.
On the sectoral front, consumer durables stocks were among the worst performers, with the Nifty Consumer Durables index falling 0.89 per cent.
Realty stocks also remained under pressure, with the sector declining 0.62 per cent. In contrast, PSU bank stocks outperformed the broader market, with the Nifty PSU Bank index rising 0.78 per cent.
Media stocks also saw buying interest and ended 0.76 per cent higher.
Analysts said that market sentiment stayed cautious as investors awaited clarity from the US–India trade talks, which are expected to influence near-term market direction.
(IANS)
