Indian equity markets extended their losing streak to a sixth consecutive session on Tuesday, August 18, with benchmark indices ending lower as persistent geopolitical tensions and elevated crude oil prices continued to weigh on investor sentiment.
The NSE Nifty50 ended 132.75 points, or 0.55%, lower at 24,154.90, while the BSE Sensex settled at 77,235.46, down 492.70 points, or 0.63%, from the previous close.
Among broader market indices, the Nifty Midcap100 declined 0.43%, while the Nifty Smallcap100 ended flat.
On the sectoral front, IT stocks led the decline, with the Nifty IT index falling 1.93% amid concerns that persistently high interest rates could dampen global technology spending. The Nifty PSU Bank, and Realty indices also declined more than 1% each. FMCG, Metal, Private Bank and Consumer Durables indices ended lower by up to 0.77%.
Meanwhile, the Nifty Auto, Healthcare, Oil & Gas and Pharma indices managed to end in positive territory, gaining up to 0.42%.
The India VIX, a measure of market volatility, rose 0.57% to 11.39.
Market breadth remained negative, with 1,924 of the 3,582 stocks traded on the NSE ending in the red, while 1,558 stocks closed higher. Another 100 stocks remained unchanged on Tuesday.
Here are today’s top gainers on the Nifty
Here are today’s top gainers on the Sensex
Here are today’s top losers on the Nifty
Here are today’s top losers on the Sensex
Nifty 50 closed on a weaker note, extending its recent decline and maintaining a cautious technical structure. After the initial weakness, the index traded in a subdued manner and consolidated for most of the session within the 24,235–24,174 range, indicating limited buying participation.
From a broader technical perspective, the index continues to trade within a descending channel, indicating that the near-term trend remains under pressure, said Ponmudi R, CEO of Enrich Money.
The 24,300 zone, Ponmudi said, is likely to act as the immediate resistance. A sustained move above 24,300 could help stabilize the structure and support a recovery towards the 24,400–24,500 region. “However, failure to reclaim this level could keep recovery attempts vulnerable to selling pressure.”
