Sensex, Nifty end lower as FMCG, energy weigh; IT stocks outperform

Indian equity benchmarks settled marginally lower on Tuesday amid mixed sectoral participation. The 30-share BSE Sensex pack slipped 69.86 points or 0.09 per cent to close at 76,765.92, while the broader NSE Nifty50 index shed 10.60 points or 0.04 per cent to close at 23,985.35.

Among the top Sensex laggards were Hindustan Unilever Ltd (HUL), ICICI Bank Ltd, Reliance Industries Ltd (RIL), Bharat Electronics Ltd (BEL), HDFC Bank Ltd, State Bank of India (SBI), NTPC Ltd, Power Grid Corporation of India Ltd and ITC Ltd.

IT emerged as the top-performing sector, supported by renewed buying interest. Realty and auto stocks also contributed to the gains, while energy and FMCG remained under pressure following disappointing quarterly earnings. Broader indices ended largely flat, reflecting a cautious undertone among market participants.

Ajit Mishra – SVP (Research) at Religare Broking, said, "Investor sentiment remained guarded ahead of the US Federal Reserve policy meeting, with participants refraining from taking aggressive positions. However, the decline in Brent crude prices towards the $84 per barrel mark, following easing geopolitical concerns, offered some relief. Meanwhile, the ongoing earnings season continued to drive stock-specific action across sectors."

Vinod Nair, Head of Research at Geojit Investments, noted that improving monsoon conditions and moderately better Q1FY27 earnings have strengthened the growth outlook. He added that the continued recovery in IT stocks was supported by attractive valuations.

On the technical front, Sachin Gupta of Choice Equity Broking, said, "The immediate support for Sensex is placed around 76,200–76,300, while immediate resistance is seen in the 77,200–77,300 zone. As long as the index holds above the support area, the ongoing recovery attempt is likely to remain intact. A sustained move above 77,200–77,300 could attract fresh buying interest and extend the rally towards 77,700–78,000. However, a decisive break below 76,200 may invite renewed selling pressure and drag the index towards 75,800."

He added, "Overall, Sensex continues to trade in a consolidation phase with a sideways-to-positive bias. Sustaining above the 76,200–76,300 support zone and a decisive breakout above 77,200–77,300 will be the key trigger for the next leg of the upmove."

For Nifty, LKP Securities' Rupak De stated, "The index remained range-bound during the day, with the regular monthly expiry volatility largely absent. On the higher end, 24,050 remained a strong resistance, while on the lower end, support was seen around 23,920. A decisive move above 24,050 in the near term might provide the required strength for the index to move towards 24,500 in the short term. On the lower end, support is placed at 23,800."