Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, tanked in trade on Tuesday. While Nifty50 went below 26,200, BSE Sensex closed down over 370 points. Nifty50 ended the day at 26,175.60, down 75 points or 0.28%. BSE Sensex closed at 85,063.34, down 376 points or 0.44%.The top losers on BSE Sensex were Reliance Industries (RIL), ITC, Kotak Bank, InterGlobe, and HDFC Bank. The top gainers were ICICI Bank, Sun Pharma, HUL, IndusInd Bank, and SBI.Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities notes that the benchmark Nifty index started Tuesday’s session on a weak note, opening with a downside gap amid cautious sentiment. In the initial hour, the index attempted a recovery, but the rebound proved short-lived as selling pressure resurfaced, dragging the index lower through most of the day. A mild pullback in the final hour helped recoup some losses, but the overall tone remained negative. On the daily chart, Nifty formed a high-wave candle pattern, reflecting indecision and heightened volatility. By the close, the index settled below the 26,200 mark at 26,190, down 0.27%.“The day’s decline was largely driven by heavyweight Reliance Industries, which slipped over 4%, exerting significant pressure on the benchmark. Other major laggards included ITC and Kotak Mahindra Bank. On the brighter side, ICICI Bank stood out as a strong performer, gaining nearly 3% and providing some support to the index. Sectorally, Nifty Healthcare and Nifty Pharma emerged as top gainers, bucking the overall trend, while Nifty Oil & Gas and Nifty Media were among the worst hit,” he said.Broader markets mirrored the cautious tone, with both Nifty Midcap 100 and Nifty Smallcap 100 ending in the red. However, similar to the frontline index, they witnessed a late-session recovery from intraday lows. Market breadth remained weak, with the advance-decline ratio tilted in favour of sellers. Out of the Nifty 500 universe, 303 stocks closed in negative territory, underscoring the lack of broad-based buying interest.“Going ahead, for Nifty, the zone of 26060-26040 will act as important support. On the upside, the zone of 26270-26300 will act as a crucial hurdle. Any sustainable move above 26300 will lead to further upside up to the 26450 level,” he said.Meanwhile, Asian equity markets moved higher on Tuesday, tracking gains on Wall Street and firmer US stock futures, while oil prices retreated after a brief rally triggered by geopolitical developments in Venezuela.Crude prices eased after rising on Monday following the capture of Venezuelan President Nicolas Maduro by US forces in a weekend operation, with investors reassessing the broader impact on energy supplies.In Japan, the Nikkei 225 advanced 1.1 percent to close at 52,389.63, supported by strong demand for technology-linked stocks. Precision tools maker Disco Corp. was among the top performers, surging 5.3 percent.South Korean equities extended their record-setting run, with the Kospi gaining 0.8 percent to finish at 4,495.49. The index was lifted by buying interest in automakers and select electronics companies.Chinese and Hong Kong markets also posted solid gains. The Hang Seng index in Hong Kong jumped 1.8 percent to 26,815.75, while the Shanghai Composite rose 1.1 percent to 4,069.38.Elsewhere in the region, Australia’s S&P/ASX 200 edged down 0.4 percent to 8,697.10. Taiwan’s Taiex climbed 1.2 percent, while India’s benchmark Sensex slipped marginally, ending 0.1 percent lower.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
