MUMBAI: Indian equities ended marginally lower on Tuesday. Losses in banking stocks outweighed gains in information technology shares. Global uncertainty over US-Iran tensions also weighed on sentiment.
The S&P BSE Sensex fell 114.19 points, or 0.15%, to close at 75,200.85. The NSE Nifty 50 declined 31.95 points, or 0.14%, to settle at 23,618.
Broader indices outperformed benchmark indices. The Nifty Midcap 100 rose 0.91%. The Smallcap 100 gained 1.17%. The India VIX dropped 4.86%, signalling lower volatility.
Information technology stocks led sectoral gains. The Nifty IT index rose 3.23% and extended its rally to over 7% in three sessions.
Buying interest increased due to attractive valuations. A weaker rupee also supported export-oriented IT earnings.
Private banks and financial services stocks dragged the indices lower. PSU banks closed higher.
Realty and media stocks also posted gains. Pharma and consumer durables ended in positive territory.
Infosys gained 4.52% and led Sensex advances. HCL Technologies, Tech Mahindra, and Tata Consultancy Services also rose.
Kotak Mahindra Bank, Titan, Bharti Airtel, Sun Pharmaceutical, and select cement stocks declined and pressured the index.
The Indian rupee fell to a record low against the US dollar for the sixth straight session.
Geopolitical tensions and external economic risks continued to weigh on the currency.
Domestic equities lost early gains despite optimism over a temporary pause in US military activity against Iran.
Investors remained focused on inflation risks and possible earnings downgrades for Q1 FY27. Rising wholesale inflation, higher fuel costs, and elevated bond yields added to concerns.
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