
The Indian stock markets ended their four-session winning streak on Tuesday, with Sensex falling 104.35 points or 0.13% to settle at 78,180.72 and Nifty 50 declining 31.65 points or 0.13% to close at 24,398.70, as reported by NDTV Profit. The benchmark indices faced selling pressure from weakness in heavyweight stocks, profit booking in mid-cap shares, and selling pressure in defence and realty counters, which offset gains in the IT sector. The Nifty Bank index lost 91 points to end at 58,201, while the Nifty Midcap index underperformed the broader market, falling 186 points to close at 62,285 after dropping more than 300 points from the day's high. According to CNBC TV18, the benchmark indices faced selling pressure from weakness in heavyweight stocks, profit booking in mid-cap shares, and selling pressure in defence and realty counters, which offset gains in the IT sector.
Foreign institutional investors remained net buyers for a third consecutive session on Tuesday, purchasing shares worth a provisional ₹393.19 crore, according to exchange data from CNBC TV18. This continued the recent return to Indian equities, with foreign investors remaining net buyers with purchases worth ₹243.03 crore on Monday, July 6, while domestic institutional investors turned net sellers, offloading equities worth ₹383.43 crore. The institutional activity began on Friday, July 3, when FIIs turned net buyers after a four-session selling streak, purchasing equities worth ₹1,355.33 crore, while DIIs snapped their buying streak by selling shares worth ₹1,953.89 crore.
Most sectoral indices ended lower, with realty and metal stocks leading the decline. However, the Nifty IT index bucked the trend and emerged as the top-performing sector, rising 2.4%, extending its July rebound to 6.2% as U.S. rate-hike bets remained lower than before. As reported by The Hindu BusinessLine, twelve of the 16 major sectors logged losses during the session. The broader small-caps and mid-caps fell about 0.6% and 0.3% respectively, indicating widespread selling pressure across market segments, with the Nifty Midcap index particularly underperforming due to profit booking and sector-specific selling pressure.
Among individual stocks, Titan gained 2.7% after reporting a 41% growth in consumer business in the first quarter. According to The Hindu BusinessLine, the company capitalized on strong wedding and festive demand to aggressively expand its footprint, onboarding a net addition of 77 stores during the April-June quarter to scale its global retail network to 3,680 outlets. Trent shares fell nearly 10% to ₹3,010 following Q1FY27 business update, despite standalone revenue from operations growing 19% YoY to ₹5,666 crore. Jubilant FoodWorks surged 3% to ₹451.65 after reporting consolidated revenue from operations of ₹2,569 crore in Q1FY27, up 14.1% YoY. Recent developments include Embassy Developments reporting Q1FY27 pre-sales surged 338% YoY to ₹868 crore and NTPC Green Energy declaring commercial operation of the first 50.4 MW phase of the Vanki Wind Energy Project, increasing group commercial capacity to 10,671.4 MW.
The market performance was supported by several positive factors including the rupee's strengthening of 48 paise to close at a provisional 94.95 against the US dollar, as reported by CNBC TV18. The rupee's appreciation was supported by improved global risk sentiment as higher traffic through the Strait of Hormuz eased concerns over supply disruptions. The steady monsoon progress across the country and the return of foreign inflows also aided market sentiment, with the improved global risk sentiment helping to offset some of the domestic selling pressure in key sectors. Oil markets remained in focus after a vessel was reportedly struck while transiting the Strait of Hormuz, underlining that security risks persist even as shipping through the strategic waterway gradually recovers.