Markets extended their morning losses during the midday session on Tuesday, with the Sensex declining 252.73 points or 0.31 per cent to 81,543.42 and the Nifty falling 91 points or 0.36 per cent to 24,855.50. The indices opened marginally higher at 81,869.47 but failed to sustain the momentum as selling pressure intensified.
Technology stocks emerged as the primary gainers during the session, with Tech Mahindra leading the Nifty 50 with a gain of 1.30 per cent to 1,716.00. Infosys followed closely, rising 1.24 per cent to 1,643.90, while Asian Paints added 0.98 per cent to 2,266.70. HDFC Life Insurance gained 0.77 per cent to 776.50, and Wipro advanced 0.59 per cent to 264.43.
On the downside, Sun Pharma faced the steepest decline, falling 2.15 per cent to 1,649.00, followed by Bajaj Finance which dropped 1.97 per cent to 919.50. ONGC declined 1.55 per cent to 252.80, while Eicher Motors fell 1.41 per cent to 248.59 and Shriram Finance slipped 1.37 per cent to 666.90.
Broader market sentiment remained weak, with 2,100 stocks declining against 1,687 advancing on the BSE. The Nifty Bank index underperformed, falling 0.42 per cent to 55,711.75, while the Nifty Financial Services index declined 0.50 per cent to 26,422.85. The Nifty Midcap 100 index shed 0.28 per cent to 58,604.00.
Market breadth indicated continued selling pressure with 197 stocks hitting the lower circuit compared to 190 in the upper circuit. However, 72 stocks reached their 52-week highs while 36 touched 52-week lows, suggesting selective stock-specific movements despite overall weakness.
Foreign institutional investors continued their selling spree for the fourth consecutive session, having offloaded ₹2,539 crore on June 16. This brought their cumulative net selling to ₹8,080 crore since the Iran-Israel tensions escalated. Domestic institutional investors provided support with robust inflows of ₹19,800 crore during the same period, primarily driven by strong retail systematic investment plan contributions.
Analysts maintained their view on key technical levels, with the Nifty facing support at 24,500 and resistance near 25,000. The ongoing geopolitical uncertainty in the Middle East continues to weigh on investor sentiment, with crude oil prices remaining elevated due to supply concerns.
Trading volumes remained elevated across major indices, indicating active participation despite the prevailing cautious sentiment among investors ahead of key global events.