Indian equity markets plunged to intra-day lows on Tuesday as benchmark indices witnessed significant selling pressure. The Nifty slipped below the critical 25,100 mark, touching 25,050, while the Sensex saw a sharp drop of over 200 points. This broad-based decline impacted multiple sectors, with Metal and Auto stocks bearing the brunt of the selling.
Source:- bbc news
Metal stocks faced heavy selling as global commodity prices continued to weaken, leading to a sharp correction in leading players such as Tata Steel, Hindalco, and JSW Steel. The ongoing concerns about China’s economic slowdown and weak demand for raw materials added to the negative sentiment around metal stocks.
Source:- news 18
Auto stocks also saw a steep decline as rising fuel prices and inflationary pressures dampened demand outlooks. Key auto manufacturers like Maruti Suzuki, Tata Motors, and Mahindra & Mahindra saw their stocks drop significantly during intra-day trade. Investors seemed cautious about the sector amid concerns over slowing sales and increasing costs, further fueled by rising interest rates.
Among other sectors, IT and banking stocks experienced mixed movements. While tech-heavy counters like TCS and Infosys saw moderate gains amid a resilient IT outlook, leading banks such as HDFC Bank and ICICI Bank were under pressure due to fears of tightening liquidity in the market.
Broader market sentiment remained fragile amid concerns over inflationary pressures, potential interest rate hikes, and global economic uncertainties. The persistent selling by foreign institutional investors (FIIs) continued to weigh on the markets, further contributing to the downside.
As the day progresses, market participants will be keenly watching for any recovery signals, though the current negative momentum suggests a cautious approach is likely to dominate the rest of the trading session. Investors are advised to stay alert and adopt a stock-specific strategy to navigate these volatile times.
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