Indian equity markets remained under pressure by mid-afternoon on Tuesday, weighed down by weakness in PSU banks, realty, and pharma stocks. The Nifty 50 slipped below the 24,400 mark, trading at 24,373, down 88 points (-0.36%), while the Sensex dropped 192 points to hover around 80,604.
🔻 Broader Market Pain
- Nifty Midcap and Smallcap indices fell over 1%, showing signs of broader sell-off across sectors.
- Declines were more pronounced in mid-tier names like Indian Hotels (-6.18%), Godrej Properties (-5.34%), and Kalyan Jewellers (-5.17%).
📉 Sectoral Snapshot
- Worst Performer: Nifty PSU Bank Index tumbled 4.43%, dragged down by names like Bank of India and Indian Overseas Bank.
- Other Weak Sectors: Pharma, Realty, Media, and Power saw declines between 1–2%.
- Only Green Sector: Nifty Auto edged up 0.11%, aided by a rally in Hero MotoCorp.
📈 Top Gainers & Losers
- Top Gainer: Hero MotoCorp surged 3.24% to ₹3,889.80, leading Nifty constituents.
- Top Loser: Adani Enterprises dropped 4.21% to ₹2,352.10 amid broad-based weakness in Adani group stocks.
💼 Key Earnings Highlights
- Bank of Baroda posted a Q4 profit of ₹5,047 crore, up 3.2% YoY.
- Kajaria Ceramics disappointed with a 59% YoY drop in Q4 net profit.
- Safari Industries also saw profit decline by 13% YoY.
- JBM Auto and CG Power delivered healthy profit growth of 19% and 16.2%, respectively.
🏦 Institutional Flows & Market Sentiment
- Institutional buying appears selective, focusing on financials, telecom, and consumer staples.
- Market breadth remains negative, with over 2,500 stocks declining on the BSE versus only ~800 advancing.
🗞️ Macro & Global Context
- Investors remain cautious ahead of the US Fed commentary, RBI monetary policy outcome, and key geopolitical tensions (including mock drills in 244 districts amid India-Pakistan tensions).
📌 What to Watch Next:
Keep an eye on post-market earnings from L&T, macro commentary from global peers, and any signals from the bond market that could affect near-term sentiment.
