Nifty, Sensex snap six-day rally amid broad-based selling across sectoral indices

The stock market fell on Tuesday, snapping a six-session winning streak, as profit-taking hit frontline and broader markets and all major sectoral indices closed in the red.

The NSE Nifty 50 dropped 103 points to end at 25,910, failing to hold the 26,000 mark, while the BSE Sensex slipped 278 points to 84,673. Market breadth weakened sharply, with more than 40 Nifty constituents finishing lower.

Broader indices underperformed, with the Nifty Midcap 100 falling 359 points to 60,822 and the Nifty Bank easing 63 points to 58,899.

Realty and metal stocks were the worst hit, leading sectoral declines. Kaynes Technology slid more than 6% after a shareholder lock-in expiry, while Paytm fell 3% as over 2% equity changed hands in block deals. Mphasis dropped over 1% after its promoter sold more than 9% stake via block trades.

Groww extended its strong post-listing rally, rising 9% and nearly doubling from its IPO price, while PhysicsWallah surged 43% on debut. Bharti Airtel gained 2% after S&P upgraded its rating to BBB. WeWork India added 3% and GMR Airports rose 6% after a positive note from Jefferies.

Bombay Burmah jumped 10% after the company terminated its agreement with MSTC, while CONCOR edged up 1% following the railway ministry’s announcement of a new bulk cement container policy.