Indian equity benchmarks retreated during Tuesday's session, with the Sensex shedding over 200 points to dip below the 77,150 level. Similarly, the Nifty 50 index struggled to maintain momentum, falling 83 points to settle at 24,136.
Geopolitical instability fueled by renewed US sanctions against Iran weighed heavily on investor appetite. IT heavyweights faced significant selling pressure, with HCL Tech and Tech Mahindra emerging as the primary laggards of the day.
Despite the broader indices slipping, market breadth showed surprising resilience as specific sectors managed to buck the trend. Trent stood out as a notable gainer, providing a brief glimmer of optimism amidst the widespread volatility in metal and technology stocks.
Looking ahead, market strategists anticipate a period of consolidation. Technical indicators suggest that the Nifty will likely fluctuate within a defined range, identifying 24,150 as a critical support level while keeping a watchful eye on resistance near 24,500.
