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The Nifty closed lower on Tuesday, weighed down by financial heavyweights and a drop in Reliance Industries, as investor sentiment remained cautious amid earnings-related volatility and US President Donald Trump’s
comments threatening higher tariffs on Indian goods.
The blue-chip Nifty 50 index fell 73 points, or 0.30%, to close at 24,650, slipping below the psychological 24,700-mark. The S&P BSE Sensex dropped 308 points, or 0.38%, to end at 80,710.
The broader market also saw selling pressure, with the Nifty Midcap 100 declining 225 points to 57,207, while the Nifty Bank fell 259 points to 55,360.
Private lenders ICICI Bank and HDFC Bank were among the biggest drags, pulling down the benchmarks amid broader weakness in
financials. The Nifty Financial Services index ended lower, mirroring investor concerns over asset quality and rising provisions in the June quarter earnings.
Reliance Industries, another key index mover, also ended in the red, further weighing on the Nifty.
Among gainers, IndusInd Bank rose as much as 6% intra-day, before paring gains to end higher, after the bank appointed Rajiv Anand as its next managing director and CEO.
Titan emerged as the top Nifty gainer, rising over 2%, on expectations of strong
demand ahead of the festive season.
Auto stocks continued their upward trend, supported by hopes of festive season pre-buying and strong sales momentum in July.
Solar Industries gained nearly 4% ahead of its quarterly results due on August 7, while Siemens Energy added over 2% on the back of a strong third-quarter performance.
On the flip side, BSE Ltd slumped 5% after reports that the market regulator SEBI may consider scrapping weekly options expiry—a key revenue driver for the exchange.
Britannia Industries and Divi’s Laboratories closed lower ahead of their earnings announcements, while Adani Ports shed 2% after Gautam Adani ceased to be a key managerial personnel at the company.
Aurobindo Pharma slipped 1% on weak Q1 results, and Exide Industries fell nearly 2% after the company gave a cautious outlook.
Post-earnings pressure was also visible in Triveni Turbine, which plunged 10%, and Keystone Realtors, which fell over 5% after their quarterly numbers disappointed investors.
Declines outpaced advances in the broader market, with the advance-decline ratio at 2:3, reflecting a bearish undertone.
Traders said markets could remain volatile in the coming sessions as earnings season continues, while global cues and geopolitical developments — including Trump’s tariff threats — will likely influence investor sentiment.
The blue-chip Nifty 50 index fell 73 points, or 0.30%, to close at 24,650, slipping below the psychological 24,700-mark. The S&P BSE Sensex dropped 308 points, or 0.38%, to end at 80,710.
The broader market also saw selling pressure, with the Nifty Midcap 100 declining 225 points to 57,207, while the Nifty Bank fell 259 points to 55,360.
Private lenders ICICI Bank and HDFC Bank were among the biggest drags, pulling down the benchmarks amid broader weakness in
Reliance Industries, another key index mover, also ended in the red, further weighing on the Nifty.
Among gainers, IndusInd Bank rose as much as 6% intra-day, before paring gains to end higher, after the bank appointed Rajiv Anand as its next managing director and CEO.
Titan emerged as the top Nifty gainer, rising over 2%, on expectations of strong
Auto stocks continued their upward trend, supported by hopes of festive season pre-buying and strong sales momentum in July.
Solar Industries gained nearly 4% ahead of its quarterly results due on August 7, while Siemens Energy added over 2% on the back of a strong third-quarter performance.
On the flip side, BSE Ltd slumped 5% after reports that the market regulator SEBI may consider scrapping weekly options expiry—a key revenue driver for the exchange.
Aurobindo Pharma slipped 1% on weak Q1 results, and Exide Industries fell nearly 2% after the company gave a cautious outlook.
Post-earnings pressure was also visible in Triveni Turbine, which plunged 10%, and Keystone Realtors, which fell over 5% after their quarterly numbers disappointed investors.
Traders said markets could remain volatile in the coming sessions as earnings season continues, while global cues and geopolitical developments — including Trump’s tariff threats — will likely influence investor sentiment.
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