MUMBAI: Indian equity benchmark indices slipped for a second consecutive session on Tuesday, weighed down by sharp losses in heavyweight stocks such as Reliance Industries and Trent.
Weakness in these large stocks kept overall market sentiment under pressure throughout the day. At the close of trade, the Nifty ended at 26, 178.70, down 71.6 points or 0.27 per cent.
“The index remains in a short-term consolidation phase amid tariff-related and geopolitical uncertainties, while holding above the crucial 26, 100–26, 000 support zone, which coincides with the 20-day EMA and a key psychological level, ” an analyst said.
“A decisive breakdown below 26, 000 could increase downside risk toward the 25, 900–25, 800 region, particularly if global risk sentiment deteriorates further, ” according to the analyst.