Nifty posts eight-session losing run, pressured by technology and autos

The stock market closed largely in the red on Tuesday, with the benchmark indexes extending their losing streak to eight straight sessions, dragged by weakness in technology and select auto stocks, even as banks outperformed.

The Nifty 50 fell 24 points to close at 24,611, while the Sensex slipped 97 points to end at 80,268. The broader market was mixed, with the Nifty Midcap index easing 4 points to 56,529.

"The domestic market traded within a narrow range on the monthly expiry day, as investors exercised caution ahead of the RBI’s policy. The market made an attempt to stabilise after last week’s sustained decline. Market participants are keenly awaiting the RBI’s commentary for insights into future interest rate trajectories, although a status quo on rates is widely expected. The near-term market outlook remains cautious, with price action likely to stay range-bound. Key developments, particularly regarding tariff policies and the upcoming earnings season, will be crucial in shaping the market’s trajectory beyond the current range," Vinod Nair, Head of Research, Geojit Investments Limited, said.

Banking stocks provided some support. The Nifty Bank index rose 175 points to 54,636, led by gains in state-run lenders.

Punjab National Bank and Canara Bank each advanced about 3%, making PSU banks the top sectoral performers.

Among individual movers, Man Industries tumbled 10% after markets regulator SEBI barred the firm and top executives from the securities market. KPIT Technologies slid nearly 9% in the final hour of trade, while PVR Inox fell 2% after the United States imposed 100% tariffs on foreign films.

On the upside, Coforge gained over 2% after brokerage CLSA initiated coverage with an “outperform” rating. Ola Electric rose 5%, snapping a four-day losing streak ahead of auto sales data. Tata Motors rebounded almost 2% late in the session, tracking updates from its Jaguar Land Rover unit.

Food-delivery platform Swiggy climbed nearly 2% after UBS raised its target price to ₹580 per share. Newly listed Anand Rathi shares ended 5% higher, while Seshaasai Tech dropped more than 2%.

Commodity-linked names also saw action, with Hindustan Copper rising for the seventh time in eight sessions on the back of stronger global copper prices.

Market breadth was evenly balanced, with the NSE’s advance-decline ratio at 1:1, indicating a neutral undertone.