Market today: Sensex drops 300 pts, Nifty below 24,600; BEL, Infosys lead index losers

The Indian benchmark indices, Sensex and Nifty50, continued with their recent downward, opening lower on Tuesday hurt by weak global cues and subdued results season.

At 9:16 am, the BSE Sensex was trading at 80,737.59, down 153.43 points, or 0.19 per cent. The 30-share index had earlier slipped nearly 315 points. The NSE Nifty50 declined 47.55 points, or 0.19 per cent, to 24,633.35, after hitting an intraday low of 24,598.60
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Among Sensex stocks, Bharat Electronics led the losers with a 2.17 per cent fall to Rs 380.90. Infosys followed, shedding 1 per cent. Other losers included Eternal (down 0.86 per cent), ICICI Bank (down 0.55 per cent), UltraTech Cement (down 0.41 per cent), and TCS (down 0.32 per cent).

VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said that there are more headwinds than tailwinds for the market now. The major issue weighing on markets is that the expected trade deal between India and the US has not happened so far and the probability of a deal before the August 1 deadline is becoming lower. 

“President Trump’s success in reaching deals with Japan and EU, which were advantageous for the US, may further make the US position harder on deal with India. It remains to be seen what transpires before August 1st deadline,” Vijayakumar said.

“Furthermore, there are threats of more tariffs on countries that trade with Russia if Russia doesn’t reach a deal with Ukraine on stopping the war. The threat of tariffs on pharmaceuticals is another concern. President Trump, having tasted blood in deals so far, is likely to act tough going forward. This is a concern. Sustained FII selling is impacting the market despite the DII buying. It is better to remain in a wait and watch mode," Vijayakumar added.

IndusInd Bank was in focus after the private lender reported a 68.2 per cent year-on-year drop in net profit to Rs 684.3 crore for the June 2025 quarter. Net interest income also declined 14.2 per cent YoY to Rs 4,639.8 crore. This stock fell 1.2 per cent to Rs 792.30.

Shares of Mazagon Dock Shipbuilders are also on traders’ radar after the state-run defence PSU posted a 35 per cent YoY decline in net profit to Rs 452.2 crore. Revenue rose 11.4 per cent YoY to Rs 2,625.6 crore in Q1 FY26. At 9:23 am, the stock was trading at Rs 2699.95, down Rs 89.85 or 3.22 per cent.

Several companies, including Larsen & Toubro, NTPC, Asian Paints, Varun Beverages, GMR Airports, GE Vernova T&D India, Bank of India, Apar Industries, Piramal Enterprises, The New India Assurance Company and Amber Enterprises India are in the spotlight on Tuesday as they are scheduled to report their first-quarter earnings.

Tuesday’s weak start follows a sharp sell-off on Monday. The BSE Sensex had ended the previous session at 80,891.02, down 572.07 points, or 0.70 per cent, while the NSE Nifty50 had slipped 156.10 points, or 0.63 per cent, to 24,680.90.