Indian equities extended their decline for a second session as elevated crude oil prices and volatility in global bond yields kept investors cautious. Weakness was led by large-cap, IT, consumer durables and realty stocks, while pharmaceutical shares offered some support.
Mumbai, Sept 2026 : Indian equity benchmarks closed lower for the second consecutive trading session on Tuesday as elevated crude oil prices and continued volatility in global bond yields weighed on investor sentiment, triggering broad-based selling across several sectors.
The Sensex fell 242.65 points, or 0.33 per cent, to settle at 72,529.07, while the Nifty declined 64.05 points, or 0.28 per cent, to close at 22,716.20. The weakness reflected a cautious approach among investors amid concerns over global growth, input costs and geopolitical uncertainty.
Market analysts said the Nifty's recovery attempts remained subdued, with the 23,500-23,600 range witnessing limited buying interest. On the immediate upside, the 22,750-22,800 zone is being watched as a resistance area.
On the downside, analysts identified 22,550-22,600 as an important near-term support zone. A decisive break below 22,500, they said, could intensify selling pressure and expose the index to the 22,300-22,000 range.
Selling was particularly visible among large-cap stocks, with Titan Company emerging as the biggest loser on the Nifty. Information technology stocks also remained under pressure, with Wipro and HCLTech among the major drags on the benchmark index.
The decline was not restricted to large-cap counters, as investors also reduced exposure to mid- and small-cap stocks. The Nifty MidCap index fell 0.99 per cent, while the Nifty SmallCap index declined 0.81 per cent.
Sectoral performance remained largely negative. Consumer durables, chemicals, real estate and information technology stocks witnessed notable selling pressure amid concerns about higher input costs due to firm crude prices and uncertainty over the global economic outlook.
The Nifty Consumer Durables, Nifty Chemical, Nifty Realty and Nifty IT indices were among the weakest sectoral performers during the session.
Pharmaceutical stocks, however, provided some support to the market. The Nifty Pharma index emerged as one of the better-performing sectoral gauges, offering some respite amid the broader risk-off environment.
Analysts said investors remained cautious as rising energy prices and fluctuating global bond yields continued to cloud the near-term investment outlook. Market participants have consequently adopted a more defensive approach, favouring sectors and companies with stronger fundamentals and clearer earnings visibility.
Market watchers said geopolitical tensions would remain an important driver of sentiment, while investor attention was gradually shifting towards second-quarter corporate earnings. Expectations for the earnings season have already been moderated compared with the first quarter.
Analysts also said any meaningful de-escalation of the US-Iran conflict could improve risk appetite and trigger a sharp relief rally. Until then, investors are expected to remain selective.
Meanwhile, the rupee traded largely flat near 95.97, gaining around 0.10 per cent as crude oil prices witnessed some profit booking after recent highs. Analysts placed the rupee's near-term trading range between 95.65 and 96.15.
(Disclaimer :The content of this article is sourced from a news agency and has not been edited by the Mavericknews30 team.)
