Tata Steel, TechM Lead Losses as Sensex Falls 200 Points, Nifty Breaches 25,950

Indian equities opened lower on Tuesday, tracking weakness across global markets, with both benchmark indices slipping around 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, falling between 0.5% and 1%.

Top gainers:
Only a handful of stocks moved higher, including Bharat Electronics, Bharti Airtel, Axis Bank, Eternal and SBI — each rising up to 0.5%.

Broader Market & Sectoral Trend

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

Sectorally, PSU Bank was the only index in positive territory, up 0.25%.
Realty and Metal stocks led the decline, with both Nifty Realty and Nifty Metal falling 0.8%. The Nifty IT index was down 0.5%.

Stocks in Focus

• Paytm fell 0.5% following a large trade amid reports that SAIF III Mauritius, SAIF Partners and Elevation Capital plan to offload up to 2% stake.

• Mphasis declined 2% after reports that Blackstone sold as much as 9.5% stake in the company.

• Emcure Pharma slid 6% after Bain Capital’s BC Investments offloaded up to 2% equity via a block deal at an indicative floor price of ₹1,296.51, a 7% discount to Monday’s close. The deal is estimated at up to ₹493 crore.

Global Cues

US markets closed sharply lower overnight as a sell-off in technology shares dragged major indices and investors awaited Nvidia’s earnings along with delayed US jobs data.
The Dow Jones lost 1.18%, the S&P 500 fell 0.92%, while the Nasdaq dropped 0.84%.

Asian markets also mirrored the weakness on Wall Street:

• Japan’s Nikkei fell 2.06%

• China’s CSI 300 slipped 0.15%

• Hong Kong’s Hang Seng dropped 0.85%

• South Korea’s KOSPI fell 1.33%