The benchmark indices snapped their four-session winning streak on Tuesday as weak global cues triggered profit booking in domestic equities. According to reports from Business Standard, the S&P BSE Sensex declined 104.35 points or 0.13% to 78,180.72, while the Nifty 50 index lost 31.65 points or 0.13% to 24,398.70, slipping below the important 24,400 level. In the past four sessions, the Sensex rallied 2.34% while the Nifty jumped 2.35% to notch their highest close in 10 weeks. The broader market underperformed with the Nifty Midcap Index closing 186 points lower at 62,285 after giving up most of its intraday gains. The Nifty Bank also ended lower, falling 91 points to 58,201, while selling pressure was visible across several large-cap stocks. Market breadth remained weak with 1,191 shares rising and 2,084 shares falling on the NSE, while 109 shares remained unchanged. As per Moneycontrol, about 1,492 shares advanced, 2,554 shares declined, and 155 shares were unchanged, with 12 of the 16 major sectors logging losses. Despite the weak market, IT stocks helped limit the fall in the benchmark indices, with sector-wise performance showing Nifty IT as the only major bright spot, while defence and realty stocks witnessed broad-based selling. The Sensex fell nearly 500 points from day's high during the session, highlighting the volatility in the final trading hours.
Market breadth remained weak with 1,191 shares rising and 2,084 shares falling on the NSE, while 109 shares remained unchanged. As reported by Business Standard, metal and realty stocks tumbled, while IT, consumer durables and FMCG shares bucked the broader market trend. Trent emerged as the biggest loser on the Nifty after its first-quarter business update disappointed investors, plunging around 12%, making it the biggest drag on the benchmark. Adani Enterprises, Adani Ports and Bharat Electronics (BEL) also witnessed sharp selling, adding to the weakness in the market. In the broader market, Kalyan Jewellers fell more than 7% after its quarterly update, while Cochin Shipyard declined around 4% after the government announced a 5% Offer for Sale (OFS). Other midcap losers included Premier Explosives and AB Fashion, keeping pressure on the broader market. The fall in the markets was led by metal, realty shares with the metal index trading 1% lower while the realty index declined 1.6% in afternoon trade. The NSE's India VIX, a gauge of market volatility expectations, fell 1.43% to 11.65. According to Moneycontrol, the fall in the markets was led by metal, realty shares with the metal index trading 1% lower while the realty index declined 1.6% in afternoon trade.
Trent dropped 12.4% after the company's Q1 revenue growth fell short of market expectations. According to Business Standard, the company reported 19% rise in revenue to ₹5,666 crore in Q1 FY27 from ₹4,781 crore in Q1 FY26. ICICI Bank fell 0.9%, snapping a four-session winning run. Titan Company rose 2.38% after reporting 41% year-on-year growth in its consumer businesses for the quarter ended 30 June 2026. Swiggy surged 7.17% after domestic ownership crossed the 50% mark, a key milestone in its efforts to transition into an Indian Owned and Controlled Company. RITES climbed almost 7% after securing a $35 million order from Volantis. From the Sensex pack, Infosys, Titan, SBI Life Insurance, Eternal, TCS and Jio Financial Services were among the top gainers, while Trent, BEL, Tata Motors, Larsen & Toubro, Hindalco Industries and Hindustan Aeronautics ended as the biggest losers. Infosys and TCS were among the top Sensex gainers, with IT stocks helping limit the fall in the benchmark indices.
According to Axis Securities, the Nifty has to decisively cross 24,500-mark for further upmove in the markets. "A sustained breakout above the 24,500 levels could set the momentum toward the 25,000-25300 zone. On the flip side, a breach of the 23,600 support zone may trigger profit booking, potentially dragging the index toward the 23,000-22,800-22,500 range," said analysts led by Rajesh Palviya. Yesterday's close above 24,400 has improved the chances of the much anticipated 24,800-25,250 move. As per Geojit Investments Limited, "With the prospects of volatility and upside objectives thus outlined, we will go in today with downside marker placed at 24,360 until 24,600 is seen." The ongoing consolidation indicates major demand zones amid minor downward moves, suggesting a strong buying interest on dips. The broader small-caps and mid-caps fell about 0.6% and 0.3% respectively, while both indexes traded near 10-week highs hit in the previous session. Market breadth remained weak as declining shares clearly outnumbered advancing stocks, reflecting cautious investor sentiment after the recent rally. Analysts noted that "while the near-term outlook remains neutral to positive, the market requires a decisive breakout above the multi-month resistance zone of 24,500-24,600 to generate fresh bullish momentum."
In the foreign exchange market, the rupee edged higher against the dollar, hovering at 94.9550 compared with its close of 95.4300 during the previous trading session. According to Business Standard, the yield on India's 10-year benchmark federal paper rose 0.21% to 6.703 compared with the previous session close of 6.689. MCX Gold futures for 5 August 2026 settlement fell 1.02% to ₹1,45,414, while Brent crude for September 2026 settlement rose 81 cents or 1.13% to $72.80 a barrel. The US Dollar Index was up 0.10% to 100.72. As per Moneycontrol, most stock indices in Asia ended lower Tuesday, with only benchmark equities in Singapore and Indonesia ending higher. Concerns related to sustainability of the artificial intelligence-driven rally likely dampened market sentiment, with South Korea's KOSPI down almost 5% after index heavyweight Samsung Electronics forecast its operating profit for the quarter ended June to rise 19-fold year-on-year. The world's biggest memory maker by market value slumped 7.5% in Seoul after its quarterly profit surged 19-fold and operating profit beat projections by about 8%, but failed to wow investors, sending peers across the region tumbling.
