Meanwhile, Foreign Institutional Investors (FIIs) sold shares worth Rs 525.95 crore on Monday, while Domestic Institutional Investors (DIIs) offloaded shares worth Rs 237.93 crore, according to exchange data.
Market Closing Bell: Equity benchmarks indices, Sensex and Nifty, extended losses for the third straight session on Tuesday amid weak global cues and FII (Foreign Institutional Investors) outflows. The Sensex shed 872.98 points or 1.06 per cent to settle at 81,186.44 against the previous close of 82,059.42. During the day, it touched a high of 82,250.42 and a low of 81,153.70. The Nifty 50 index ended the session at 24,683.90, 261.55 points or 1.05 per cent lower than the previous close of 24,945.45. During the day, it hit a high of 25,010.35 and a low of Rs 24,669.70. The fall comes as a result of heavy losses in autos, financials, and defence-linked stocks.
Among sectors, all leading sectoral indices Nifty Auto, like Nifty IT and Nifty FMCG ended in the red, with the Nifty Auto losing the most, 2.17 per cent, at the end of the session.
Similarly, the broader markets ended in the red, with the Nifty Midcap 100 index shedding 1.62 per cent to 56,182.65 points and the Nifty Smallcap 100 index losing 0.94 per cent to 17,483.65 points at the end of the session.
“The Nifty slipped after two days of consolidation, dragged down by broad-based selling and weakening market breadth. Despite this decline, the short-term trend remains strong, although there is a possibility of a deeper pullback toward the 21-day EMA on the daily timeframe. The negative divergence on the daily RSI has added to the bearish sentiment. If Nifty sustains below 24,700, the correction could extend further, potentially towards 24,300. However, if the index moves back above 24,700, it may signal a return to a consolidation phase,” Rupak De, Senior Technical Analyst at LKP Securities.
From the Sensex 30 pack, Tata Steel, Infosys, and ITC were among the gainers, with Power Grid adding 0.73 per cent.
Eternal, Maruti, Mahindra & Mahindra, UltraTech Cement, and Power Grid were among the laggards, with Eternal falling 4.10 per cent.
Meanwhile, Foreign Institutional Investors (FIIs) sold shares worth Rs 525.95 crore on Monday, while Domestic Institutional Investors (DIIs) offloaded shares worth Rs 237.93 crore, according to exchange data.
