Markets Decline: Sensex Sheds 200 Points, Nifty Breaks 25,950; Tata Steel, TechM Drag

Indian equities opened lower on Tuesday, tracking weak global cues, with both benchmark indices slipping 0.2% in early trade.

The BSE Sensex declined 195 points to 84,756, while the Nifty50 fell 64 points to 25,949.

Market Movers

Top laggards:
Tata Steel, Bajaj Finance, Bajaj Finserv, Kotak Bank, L&T, M&M, Tech Mahindra, HCL Tech, Sun Pharma and Titan were among the major drags on the Sensex, losing 0.5%–1%.

Top gainers:
Only five stocks — Bharat Electronics, Bharti Airtel, Axis Bank, Eternal and SBI — traded in the green, rising up to 0.5%.

Broader Market

The Nifty MidCap index slipped 0.25%, while the Nifty SmallCap index dropped 0.40%.

Sectoral Trend

The Nifty PSU Bank index was the sole sectoral gainer, up 0.25%.
Realty and Metal stocks led the decline, with Nifty Realty and Nifty Metal each falling 0.8%. The Nifty IT index was down 0.5%.

Stocks in Focus

• Paytm dipped 0.5% after a large trade, amid reports that SAIF III Mauritius, SAIF Partners and Elevation Capital may sell up to 2% stake.

• Mphasis fell 2% after reports that Blackstone offloaded as much as 9.5% stake.

• Emcure Pharma dropped 6% after Bain Capital’s BC Investments sold up to 2% equity via a block deal at a floor price of ₹1,296.51 — a 7% discount to the previous close. The deal size is estimated at ₹493 crore.

Global Cues

US markets closed sharply lower overnight as a tech-led sell-off dragged the indices. Caution also prevailed ahead of Nvidia’s earnings and delayed US jobs data. The Dow Jones slipped 1.18%, the S&P 500 fell 0.92%, and the Nasdaq dropped 0.84%.

Asian markets mirrored Wall Street’s weakness:

• Japan’s Nikkei declined 2.06%

• China’s CSI 300 edged down 0.15%

• Hong Kong’s Hang Seng fell 0.85%

• South Korea’s KOSPI dropped 1.33%