Market wrap: Markets close in red for eight consecutive session; NIFTY closes near 24,600, while SENSEX near 80,000

Indian equity benchmarks ended flat with negative bias on Tuesday, with both the NIFTY50 and SENSEX extending losses to eight consecutive sessions, amid persistent foreign institutional investors (FIIs) selling and increasing concerns over US tariffs. After making a positive start, soon indices turned volatile and traded near neutral lines throughout the day, as traders awaited the Reserve Bank of India's (RBI's) Monetary Policy Committee decision, which will be announced on Wednesday.

Some of the important factors in trade

Indian economy likely to grow at 6.5% in FY26: Some concern also came as Asian Development Bank (ADB) stated that despite a strong 7.8% growth in the first quarter, the Indian economy is expected to grow at 6.5% in the current financial year as the impact of US tariffs on Indian exports will reduce prospects, particularly in the second half.

Continued FIIs outflow: Traders remained cautious as exchange data showed Foreign Institutional Investors offloaded equities worth ₹2,831.59 crore on Monday.

Global front: European markets were trading mostly in red, while Asian markets ended mixed due to uncertainty around U.S. President Donald Trump's trade tariffs and U.S. government shutdown fears amid a partisan deadlock in Congress over spending and healthcare leaves.

The SENSEX ended at 80267.62, down by 97.32 points or 0.12% after trading in a range of 80201.15 and 80677.82. 16 stocks were advancing against 14 stocks declining on the index.

The broader indices ended in green; the BSE Mid cap index was up by 0.04%, while the Small cap index was up by 0.08 points.

The gaining sectoral indices on the BSE were Metal up by 1.11%, Basic Materials up by 0.65%, PSU up by 0.60%, Auto up by 0.30%, and Bankex up by 0.22%, while Telecom down by 0.93%, Realty down by 0.79%, Consumer Durables down by 0.78%, TECK down by 0.50% and FMCG down by 0.39% were the top losing indices on BSE.

The NIFTY ended at 24611.10, down by 23.80 points or 0.10% after trading in a range of 24587.70 and 24731.80. 25 stocks were advancing against 24 stocks declining on the index, while one stock remained unchanged.

The top gainers on Nifty were JSW Steel up by 1.83%, Ultratech Cement up by 1.50%, Adani Ports and Special Economic Zone up by 1.47%, Tata Motors up by 1.14% and Hindalco up by 1.08%. On the flip side, Interglobe Aviation down by 1.97%, ITC down by 1.40%, Bharti Airtel down by 1.25%, Trent down by 1.12% and Titan Company down by 1.01% were the top losers.

European markets were trading mostly in red; France’s CAC fell 43.27 points or 0.55% to 7,837.60 and UK’s FTSE 100 decreased 9.99 points or 0.11% to 9,289.85, while Germany’s DAX gained 4.34 points or 0.02% to 23,749.40.