Indian equity indices finished in negative territory on Tuesday, with selling pressure centered on Metals, IT and Technology stocks. At the close of trade on the National Stock Exchange, the Nifty 50 declined 1.16%. The BSE Sensex 30 mirrored that move, falling 1.16%.
Winners and losers
Among Nifty constituents, Cipla Ltd. (NSE:CIPL) was the session's leading gainer, rising 1.36% - an increase of 19.30 points to end at 1,435.00. Power Grid Corporation of India Ltd (NSE:PGRD) added 0.83%, or 2.40 points, to close at 292.15. Dr Reddy’s Laboratories Ltd (NSE:REDY) also finished higher, up 0.79% or 10.20 points to 1,300.90.
On the downside, major IT names weighed on the market. Infosys Ltd (NSE:INFY) fell 3.42% - down 36.40 points to finish at 1,029.00. Wipro Ltd (NSE:WIPR) declined 3.21% or 5.79 points to close at 174.39. Tata Consultancy Services Ltd. (NSE:TCS) lost 3.20%, slipping 68.00 points to 2,059.80.
BSE snapshot
On the BSE Sensex 30, Power Grid Corporation of India Ltd (BO:PGRD) paced the gainers, rising 0.95% to 292.60. Maruti Suzuki India Ltd. (BO:MRTI) edged up 0.07% to settle at 13,422.20. Axis Bank Ltd. (BO:AXBK) was marginally lower, down 0.07% to close at 1,357.90.
The weakest names on the Sensex were led by Infosys Ltd (BO:INFY), which moved down 3.37% to 1,029.50. Tata Consultancy Services Ltd. (BO:TCS) fell 3.16% to 2,060.00, while Tata Steel Ltd (BO:TISC) lost 2.99% to end the session at 193.00.
Market breadth and individual stock notes
Decliners outnumbered advancers on the NSE by a wide margin: 1,755 stocks fell compared with 784 that advanced, and 43 were unchanged. On the BSE, 2,589 issues declined, 1,417 advanced and 158 finished flat.
Several large-cap IT stocks fell to 5-year lows during the session. Shares of Infosys Ltd (NSE:INFY) touched 1,029.00 after falling 3.42% (also cited as 1,029.50, down 3.37% on the BSE). Wipro Ltd (NSE:WIPR) closed at 174.39, down 3.21%. Tata Consultancy Services Ltd. (NSE:TCS) ended at 2,059.80 on the NSE, down 3.20%; on the BSE it settled at 2,060.00, off 3.16%.
Volatility, commodities and currencies
The India VIX, the measure of implied volatility for Nifty 50 options, climbed 10.78% to 14.23, reflecting a notable uptick in expected near-term market volatility.
In commodities trading, August gold futures were lower, falling 1.30% or 54.63 to $4,148.07 a troy ounce. Crude oil for August delivery slipped 0.18%, or $0.13, to $73.73 a barrel. The September Brent contract declined 0.22% or $0.17 to trade at $77.35 a barrel.
Currency moves included USD/INR, which rose 0.16% to 94.83, while EUR/INR eased 0.13% to 108.06. The US Dollar Index Futures were up 0.15% at 100.95.
Conclusion
Tuesday's session was marked by broad-based selling, with the IT and Technology sectors leading losses and volatility measures rising. Defensive and healthcare-related names provided relative support, but the overall participation favored decliners on both main exchanges.