Sensex, Nifty close lower for third straight session; here's what analysts say

Sensex and Nifty ended lower for the third straight session on Tuesday dragged by uncertainty arising out of no conclusive agreement on global trade settlement involving major economies. 

Sensex closed 636 pts lower to 80,737 and Nifty slipped 174 points to 24,542. Investor wealth fell by Rs 2.34 lakh crore  to Rs 443.16 lakh crore on BSE today against Rs 445.50 lakh crore on Monday. 

Prashanth Tapse, Senior VP (Research), Mehta Equities said, "There is no outcome yet on the global trade settlement involving major economies, which is creating a lot of uncertainty amongst the investors and prompting them to slash their equity bets at regular intervals. Also, with no solution yet to the conflict between Russia & Ukraine, the risk off sentiment continues with the investors."

Devarsh Vakil, Head of Prime Research, HDFC Securities  said, "Nifty has violated its 20 days EMA and SMA on closing basis, which is bearish signal for the short term. However, breaching previous swing low of 24462 could intensify the selling pressure going ahead. Below 24462, Nifty could slide down towards 50 Dema support placed near 24185. Resistance for the Nifty has now shifted down to 24845."

All Sensex stocks except M&M ended in the red. 

Adani Ports, Bajaj twins, PowerGrid, Eternal, IndusInd Bank, Maruti, NTPC and TCS shares were the top losers falling up to 2.42%. 

Midcaps and smallcaps shares ended in the red in the current session. On BSE, the midcap index crashed 236 pts to 45,159 and the small-cap index fell 36 pts to 52,563. 

On a sectoral basis, market was also a sea of red. All 19 BSE indices except BSE realty index ended lower. Capital goods (622 pts), banking (561 pts) and consumer durables shares (324 pts) were the top losers on BSE.  

The BSE realty index ended 93.18 pts higher at 7627. 

Market breadth was in the red. Out of 4144 stocks traded, 2266 slipped into losses. Around 1731 stocks could rise while 147 stocks remained unchanged.