Mumbai, Dec 16 Indian equity benchmark indices ended lower on Tuesday as weak global cues and selling pressure in metal, realty and financial stocks weighed on market sentiment.
At the close of trade, the Sensex slipped 533.50 points, or 0.63 per cent, to settle at 84,679.86, while the Nifty declined 167.20 points, or 0.64 per cent, to end at 25,860.10.
“On the downside, the support at 25,870 was breached, intensifying bearish sentiment in the market,” experts said.
“In the short term, the index may drift lower towards 25,700 and lower. On the upside, the 25,950–26,000 zone is likely to act as a crucial resistance in the near term," they added.
Banking and financial stocks led the losses, with Axis Bank and Eternal emerging as the top laggards among the Sensex constituents, falling up to 5 per cent.
Other heavyweights such as HCL Technologies, Tata Steel, Bajaj Finserv, UltraTech Cement, Bajaj Finance and NTPC also ended more than 1 per cent lower, adding to the overall pressure on the indices.
Gains were limited and selective. Titan and Bharti Airtel rose over 1 per cent each, offering some support to the market.
Shares of M&M, Asian Paints and Trent also closed in the green, but were not enough to offset broader losses.
The weakness was equally visible in the broader market, which largely moved in line with the benchmark indices.
The Nifty MidCap 100 index declined 0.83 per cent, while the Nifty SmallCap index fell 0.92 per cent.
Sector-wise, real estate and private banking stocks saw the sharpest cuts, with the Nifty Realty and Nifty Private Bank indices dropping over 1 per cent each.
PSU bank stocks also remained under pressure, while the Nifty IT index ended lower by 0.84 per cent.
On the positive side, consumer durables and media were the only sectors to finish in positive territory.
Meanwhile, the Indian rupee weakened further during the session and touched a fresh all-time low of 91.01 against the US dollar, adding to concerns around global uncertainty and capital flows.
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