The benchmark indices ended lower with Nifty failed to hold above 24,000. The Nifty MidCap and the Nifty SmallCap indices ended 0.28 per cent and 0.42 per cent higher, respectively. Among sectors, the Nifty PSU Bank and the Nifty Bank underperformed, while the Nifty Oil & Gas and the Nifty Metal outperformed.
On the global front, Asian stocks ended mostly lower on Tuesday as U.S.-Iran talks remained at a standstill and investors braced for the earnings releases of the Magnificent Seven companies this week. European stocks were slightly higher in cautious trade on Tuesday as investors braced for big tech earnings and the upcoming Federal Reserve decision.
On the other side oil prices pushed higher on Tuesday as U.S.-Iran peace talks stalled and the Strait of Hormuz remained effectively closed, threatening energy supply.
Meanwhile, Gold prices fell sharply toward $4,600 an ounce on Tuesday, hitting a three-week low as elevated oil prices fueled concerns about inflation and the outlook for interest rates.
On the corporate front, Adani Total Gas shares gained 2.7% on robust Q4 results, One Mobikwik Systems shares surged nearly 2% after 7.65% equity change hands in block trades. While Maruti Suzuki India share price declined 2.74 per cent to ₹12,860 on the National Stock Exchange (NSE) after reporting a decline in the Q4 net profit.
The 30-share benchmark ended at 76886.91 down by -416.72 points or by -0.54 % and then NSE Nifty was at 23995.7 down by -97 points or by -0.4 %.
During the day’s trade, Sensex touched intraday high of 77493.53 and intraday low of 76741.06 The NSE Nifty touched intraday high of 24181.8 and intraday low of 23957.05.
The top gainers of the BSE Sensex pack were Reliance Industries Ltd. (Rs. 1388.90,+1.68%), Bharti Airtel Ltd. (Rs. 1845.45,+1.43%), Mahindra & Mahindra Ltd. (Rs. 1409.15,+0.95%), Sun Pharmaceutical Industries Ltd. (Rs. 1747.70,+0.80%), Tata Steel Ltd. (Rs. 215.05,+0.73%), among others.
The top losers of the BSE Sensex pack were Axis Bank Ltd. (Rs. 1289.40,-2.65%), HCL Technologies Ltd. (Rs. 1196.25,-2.64%), InterGlobe Aviation Ltd. (Rs. 4445.10,-2.59%), Maruti Suzuki India Ltd. (Rs. 12891.70,-2.53%), State Bank of India (Rs. 1090.90,-1.88%), among others.
BSE Metal index was at 42922.72 up by 208.56 points or by 0.49%. Coal India Ltd. (Rs. 466.95,+3.10%), Hindalco Industries Ltd. (Rs. 1074.30,+1.17%), Steel Authority of India (SAIL) Ltd. (Rs. 185.75,+0.87%), Tata Steel Ltd. (Rs. 215.05,+0.73%), NMDC Ltd. (Rs. 90.88,+0.51%),.
On the flip side, BSE Auto index was at 56972.82 down by -565.99 points or by -0.98%. Maruti Suzuki India Ltd. (Rs. 12891.70,-2.53%), Samvardhana Motherson International Ltd. (Rs. 125.25,-2.03%), Bajaj Auto Ltd. (Rs. 9500.00,-1.68%), Balkrishna Industries Ltd. (Rs. 2189.90,-1.53%), TVS Motor Company Ltd. (Rs. 3500.40,-1.49%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 4702 , shares advanced were 2106 while 2393 shares declined and 203 were unchanged.