Photo of the National Stock Exchange, Wikimedia Commons, CC BY-SA 4.0
The Sensex and Nifty ended lower on Tuesday, with the Sensex down 12.99 points, or 0.02%, at 76,944.28.
The Nifty50 closed 24.60 points, or 0.1%, lower at 24,055.80, near the 24,050 mark for much of the session.
Pharma, banking, auto and realty stocks weighed on the market, offsetting gains posted by IT and FMCG shares during the day.
The decline came even as strong GDP data was released around the same time, with sector weakness outweighing the broader positive macro signal.
IT stocks maintained their recent strength relative to the rest of the market, cushioning some of the day’s overall losses.
IT stocks extended their recent run of strength, continuing to outperform the broader market even as other sectors dragged the headline indices lower.
FMCG shares also held up relatively well during the session, providing some counterbalance to the declines in banking and pharma counters.
Markets had been broadly volatile in the days leading up to the session, with sentiment swinging between global cues and domestic sector-specific developments.
Analysts have flagged upcoming domestic earnings commentary and global rate signals as key factors likely to shape near-term direction for the indices.
The Nifty has hovered near the 24,000-24,200 range over recent sessions, with traders watching for a decisive break in either direction.
Sector rotation has been a recurring theme in recent weeks, with gains in one segment of the market frequently offset by weakness in another on the same trading day.
Broader market breadth was mixed during the session, with advances and declines roughly balanced across the wider set of listed stocks beyond the headline indices.
Losses in pharmaceutical, banking, auto and realty stocks weighed on the benchmark indices, offsetting gains posted by information technology and FMCG shares during the session.
The muted close came despite strong GDP data released around the same period, with sector-specific weakness outweighing the broader macroeconomic tailwind.
Photo of the National Stock Exchange, Wikimedia Commons, CC BY-SA 4.0
