CHENNAI: Indian equity markets closed in the red on Tuesday, with the BSE Sensex falling by 212.85 points (0.26%) to settle at 81,583.30, while the NSE Nifty 50 declined by 93.10 points (0.37%) to end at 24,853.40. The downturn was primarily driven by declines in financial and oil & gas stocks, coupled with escalating geopolitical tensions between Israel and Iran, which heightened market uncertainty.
The pharma and metal sectors witnessed significant selling pressure. In the pharma space, stocks like Sun Pharma and Dr. Reddy’s Laboratories fell over 2%, amid concerns over potential tariffs and trade tensions. The metal sector also registered losses, further contributing to the market’s weakness.
In contrast, the IT sector bucked the broader trend, with major stocks such as Tech Mahindra and Infosys posting gains. Defence stocks also outperformed, with companies like Mazagon Dock and GRSE gaining over 2%.
Among the top gainers on the Nifty 50 were Tech Mahindra, which rose 1.30% to close at ₹1,716.00, followed by Infosys (up 1.24% to ₹1,643.90), Asian Paints (up 0.98% to ₹2,266.70), HDFC Life Insurance (up 0.77% to ₹776.50), and Wipro (up 0.59% to ₹264.43).
On the other hand, top laggards included Sun Pharma (down 2.38%), Dr. Reddy’s Laboratories (down 2.32%), Adani Enterprises (down 2.14%), Eternal (down 1.79%), and Bajaj Finance (down 1.76%).
According to market analysts, the decline was driven by a combination of global and domestic factors. Geopolitical tensions in the Middle East have heightened investor caution, prompting profit-booking after recent market gains.
“Investors are advised to remain cautious and monitor global developments closely,” said a research analyst at a foreign brokerage.