Indian benchmark indices ended lower for the third day of the month on Tuesday, with the 30-share BSE Sensex tanking 636.24 points, or 0.78 per cent, to close at 80,737.51; while the Nifty declined 174.10 points, or 0.70 per cent, to 24,542.50.
While the BSE Midcap index shed 0.5 percent, smalllcap index ended flat. Among sectors, realty index rose 1 percent, while bank, capital goods, consumer durables, IT, oil & gas, power, private bank, PSU bank indices were down 0.5-1 percent.
The laggards included Adani Ports, Bajaj Finserv, Adani Enterprises, Coal India, and Power Grid, while gainers included Grasim Industries, Shriram Finance, M&M, Bajaj Auto, Cipla.
Among sectors, the Private Bank index lost the most, shedding 1.25 percent, whereas the Reality and Defense indices outperformed, rallying over 1 percent, despite the weak market sentiment.
“On daily charts, a long bearish candle has formed, and on intraday charts, a lower top formation is holding, which is largely negative,” said Shrikant Chouhan, head, equity research, Kotak Securities.
“We believe that the intraday market texture is weak, but a fresh sell-off is possible only if the level of 24,450/80500 is breached. Below this, the index could decline to 24,320–24,300/80100-80000. On the upside, if the index moves above 24,600/81000, a quick pullback rally towards the 20-day SMA or 24,700/81300 could occur,” he said.
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