Sensex, Nifty Close Modestly Lower

RTTNews | 129 days ago
Sensex, Nifty Close Modestly Lower

(RTTNews) - Indian stocks turned in a weak performance on Tuesday as rising tensions in the Middle East and the rupee's drop to a low of 95.44 against the greenback weighed on sentiment. The market managed to pare some losses thanks to a fairly decent recovery past mid-afternoon.

Investors mostly made their moves, reacting to earnings announcements.

In Middle East news, the US and Iran are reportedly indulging in attacks in the Gulf amid rising tensions around the Strait of Hormuz.

Iran's parliament speaker said today that US actions were endangering shipping and energy transit in the Strait of Hormuz. "Shipping and energy transit security have been endangered by the United States and its allies through breaching the ceasefire and imposing a blockade," Mohammad Bagher Ghalibaf said in a post on X.

He said a "new equation" was taking shape in the strategic waterway, and added: "We know well that the continuation of the status quo is unbearable for America, while we have not even started yet."

The BSE benchmark Sensex, which opened at 77,103.72 dropped to a low of 76,515.03 intraday and eventually ended the day at 77,017.79, losing 251.61 points or 0.33%.

The National Stock Exchange's Nifty50 finished with a loss of 86.50 points or 0.36% at 24,032.80, well off the session's low of 23,882.05.

The market breadth was almost neutral. On BSE, 2,175 stocks drifted down, while 2,000 stocks posted gains and 187 stocks ended flat.

ICICI Bank, Eternal, Tech Mahindra, Axis Bank, Larsen & Toubro, Bharti Airtel, Maruti Suzuki, Adani Ports, SBI and HDFC Bank closed lower by 0.7%-1.6%.

Coal India, Jio Financial Services, Dr Reddy's Laboratories, JSW Steel, ONGC and Adani Enterprises also closed weak.

Mahindra & Mahindra rallied nearly 3.5%, buoyed by a 53.3% jump in net profit in the fourth quarter of 2025-26, compared with net earnings in the year-ago quarter.

UltraTech Cement gained 1.7%. Bajaj Finserv, Bajaj Finance, Infosys, Hind Unilever and Titan000000000 gained 0.6%-1.1%.

Hindalco, HDFC Life, Nestle, BEL and Shriram Finance also closed on a positive note.

Wockhardt moved up nearly 8% after reporting a whopping 169% jump in fourth quarter net earnings, compared to a quarter earlier. Tata Technologies and Quess Corp also posted strong gains thanks to upbeat quarterly numbers.

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