MUMBAI: Indian benchmark indices ended lower on Tuesday as weakness in IT stocks erased early gains, despite falling crude oil prices and positive global cues, according to media reports.
The Sensex fell 329.91 points, or 0.44%, to close at 74,529.08, while the Nifty 50 declined 85.30 points, or 0.36%, to 23,329.00.
Both indices opened higher but lost ground during the session as investors remained cautious amid geopolitical uncertainty and concerns over IT sector demand.
The Nifty IT index fell 0.86%. Major IT stocks also declined, with TCS down 1.13%, Tech Mahindra 1.02%, Infosys 0.98% and HCLTech 0.80%.
According to media reports, concerns over subdued demand and the sector’s earnings outlook added to selling pressure in IT stocks.
Falling crude prices provided some support. Brent crude fell 1.5% to around $98.90 a barrel, moving below the $100 mark. The decline came amid hopes of diplomatic efforts to ease tensions involving Iran and the United States.
Most sectoral indices ended lower, while media, realty and metal stocks recorded gains.
The broader market also remained under pressure. India VIX, a key measure of market volatility, fell 2.88% to 10.92.
The session also coincided with the NSE’s weekly derivatives expiry, adding to trading activity amid continued global and geopolitical uncertainty.
Disclaimer: This content is based on media reports and market data available at the time of reporting and is for informational purposes only. Investors are advised to consult a qualified financial expert before making any investment decisions. VisionMP is not responsible for any loss arising from the use of this information.
