Indian equity benchmark indices faced intense selling pressure on Tuesday, snapping recent momentum. The BSE Sensex dropped 555.23 points (-0.73%) to settle at 75,577.58, while the NSE Nifty 50 declined by 144.05 points (-0.61%) to close at 23,635.10.
Sectoral indices painted a largely negative picture, with Nifty IT, Financial Services, and Auto bearing the brunt of the downturn. Banking heavyweights and IT majors dragged the benchmarks lower, whereas defensive sectors like Nifty Pharma and FMCG offered minor support. Top index laggards included Infosys, ICICI Bank, and Tata Motors, while Sun Pharma and ITC managed modest gains in an otherwise weak session.
Market sentiment remained cautious amid elevated Brent crude prices hovering above $82 per barrel and muted global market cues. Foreign Institutional Investors (FIIs) maintained a net selling stance in the secondary market, which dampened investor appetite, while the Indian Rupee consolidated in a narrow range against the US Dollar. Traders now await key macroeconomic inflation data for further direction.