Indian equity markets closed in the red on Tuesday, weighed down by rising geopolitical concerns in the Middle East and caution ahead of the U.S. Federal Open Market Committee (FOMC) meeting. Investors remained risk-averse as the threat of further escalation in the region cast a shadow on global sentiment.
The benchmark Sensex declined by 212.85 points, or 0.26%, settling at 81,583.30, while the Nifty 50 shed 93.10 points, or 0.37%, to close at 24,853.40. Market breadth remained weak, with losses extending across most sectors.
Technology stocks provided some respite, with Tech Mahindra and Infosys emerging as the top gainers among Nifty constituents. The Nifty IT index stood out as the only major sectoral index to close in the green, supported by expectations of stable demand and relative insulation from Middle East-related disruptions.
In contrast, Adani Enterprises and Sun Pharma dragged the indices lower, leading the list of laggards. Pharmaceutical and healthcare stocks bore the brunt of investor concerns after US President Donald Trump, in a recent statement, hinted at imposing fresh tariffs on pharmaceutical imports. The commentary triggered a sharp sell-off in the Nifty Pharma and Nifty Healthcare indices, which ended as the day’s worst performers.
The broader market also reflected weakness. Both the Nifty Midcap 100 and Nifty Smallcap 100 indices declined over 0.70%, indicating that selling pressure was not confined to large-cap stocks.
