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by IANS |
Mumbai, Dec 9 (IANS) Indian stock markets ended lower on Tuesday as investors booked profits after the recent rally, leading to a broad dip across major indices.
Sentiment weakened further after reports suggested that US President Donald Trump may consider imposing new tariffs on Indian rice, raising fresh concerns about unresolved trade negotiations between India and the United States.
At the closing bell, the Sensex closed at 84,666.28, falling 436.41 points or 0.51 per cent.
The Nifty also slipped and settled at 25,839.65, down 120.90 points or 0.47 per cent.
Several heavyweight stocks dragged the market, with Asian Paints, Tech Mahindra, HCL Tech, Tata Steel, Maruti Suzuki, Sun Pharma, TCS, ICICI Bank and Bajaj Finance emerging as the biggest losers.
These counters declined up to 4.6 per cent during the session. However, a few stocks such as Eternal, Titan, Adani Ports, BEL and SBI managed to stay in the green and provided some support to the benchmarks.
The broader markets showed a stronger performance as the Nifty MidCap index gained 0.32 per cent and the Nifty SmallCap index rose 1.14 per cent -- indicating continued buying interest in mid- and small-cap stocks.
Most sectoral indices, including Nifty IT, Auto and Pharma, were under pressure and fell nearly 1 per cent.
Other pockets such as PSU Bank, FMCG, Media, Consumer Durables and Chemicals also traded in the red through the day.
Analysts said that the market remained weighed down by global trade worries and consistent profit booking, as investors turned cautious ahead of further developments on the US-India tariff issue.
“In the near term, central bank commentary, currency movement, and FII flows will steer sentiment, while domestic macro resilience is expected to provide a cushion against downside risks," market watchers said.
“While the markets largely anticipate a 25-bps rate cut by the Fed and a rate hike by the BoJ, forward guidance for 2026 will be critical,” they added.
Meanwhile, the rupee rose 23 paise to 89.82 as short covering emerged after a mild recovery in equities.
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