The Indian stock market witnessed a weak session on Tuesday morning, with both benchmark indices slipping into the red. The Sensex was down by 380 points, while the Nifty hovered around the 22,400 mark, reflecting broad-based selling across sectors.
Tech Stocks Drag Markets Lower
The pressure was most visible in the technology space. Wipro, Tech Mahindra, Adani Enterprises, Infosys, and Trent emerged as the top losers on the Nifty, pulling the index lower. These stocks saw notable selling amid weak global cues and sector-specific concerns.
BSE Midcap and Smallcap indices also declined sharply, falling by 1.5% each, indicating that the weakness extended beyond the large-cap universe.
Only FMCG and Auto Hold Ground
In terms of sectoral performance, only FMCG and Auto indices stayed positive, providing some relief in an otherwise weak market. Stocks like Nestle, HUL, Power Grid Corp, M&M, and ITC were among the top gainers on the Nifty, helping limit further downside.
Except for FMCG and Auto, all other sectoral indices were trading in the red, showing widespread caution across industries.
Overall Market Sentiment Weak
The sentiment on Dalal Street remained cautious amid a mix of global and domestic factors. With pressure building in tech and midcap stocks, investors appeared to be booking profits and reducing exposure in riskier segments.
