Indian equity markets faced heavy selling pressure on Tuesday, as weak global cues and sectoral underperformance weighed down the benchmark indices. The Nifty dropped below the 24,500 mark, reaching its lowest level in more than two months.
Sensex had fallen 930.55 points, or 1.15 percent, to settle at 80,220.72, while the Nifty dropped 309.00 points, or 1.25 percent, to close at 24,472.10.
Among the top losers on the Nifty were Adani Enterprises, Mahindra & Mahindra (M&M), Bharat Electronics, Coal India, and Tata Steel. On the flip side, ICICI Bank, Nestle India, and Infosys were the key gainers, providing some respite in an otherwise negative session.
All sectoral indices ended the day in negative territory, with sectors such as auto, capital goods, metal, power, real estate, telecom, media, and public sector banks seeing declines of 2-3 percent. The broader market also suffered, with the BSE Midcap index shedding 2.5 percent and the Smallcap index declining by 3.8 percent.
More than 160 stocks hit their 52-week highs on the BSE, including names such as GFL, IFB Industries, Indigo Paints, Maharashtra Scooters, MCX India, Orient Cement, Pilani Investments, SJS Enterprises, Torrent Power, Unichem Labs, and Whirlpool.
However, more than 150 stocks touched their 52-week lows, including Anupam Rasayan, Aptech, Coffee Day, CSB Bank, Easy Trip Planners, Equitas Bank, HLE Glascoat, IDFC First Bank, IndusInd Bank, ITI, Mishra Dhatu Nigam, MTAR Technologies, PNC Infratech, RBL Bank, Repro India, Satin Credit, Shalimar Paints, Shankara Building, Sheela Foam, Tanla Platforms, Ujjivan Small Finance Bank, Vodafone Idea, and Zee Entertainment.
