Investors poorer by Rs 2.8 lakh crore in a day as financial stocks weigh on Dalal Street

Domestic equity benchmarks finished lower on Tuesday amid cautious global sentiment and simmering geopolitical tensions in the Middle East. The Sensex ended 212.9 points, or 0.3 per cent, lower at 81,583.3 while the Nifty50 settled at 24,853.4, down 93.1 points, or 0.4 per cent, from its previous close.

Investors lost about Rs 2.79 lakh crore in wealth in a day as the market capitalisation of BSE-listed companies fell to Rs 447.74 lakh crore at the end of the session from Rs 450.52 lakh crore on Monday, according to provisional exchange data. 

The Nifty Bank—whose 12 constituents include SBI, HDFC Bank and ICICI Bank—gave up 230.8 points, or 0.4 per cent, to settle at 55,714.2. Financial services carry a weightage of 37.6 per cent in the headline index.

Adani Enterprises, Eternal, Dr Reddy's, Tata Motors, Sun Pharma, ONGC and Shriram Finance, closing between 1.8 per cent and 2.3 per cent lower, were the worst hit among the 38 losers in the Nifty basket. On the other hand, Tech Mahindra, Infosys, Asian Paints, Maruti Suzuki and TCS, rising between 0.5 per cent and 1.9 per cent, were the top gainers in the 50-blue-chip pack. 

The session started on a sluggish note as investors remained on the sidelines ahead of the US Federal Reserve’s policy decision, expected later this week. Global tensions—particularly the conflict between Iran and Israel—kept risk appetite in check, buying in large-cap sectors such as banking, IT, auto, and metals helped pare early losses. Analysts said easing crude oil prices also contributed to the intraday recovery.

Sectorally, IT, auto, and metal stocks were among the top gainers, offering support to the broader indices. Banking shares, especially large-cap names, held firm throughout the session. On the other hand, pharma stocks dragged the market lower, with the Nifty Pharma index falling nearly 2 per cent. Analysts attributed the decline to renewed concerns over global tariffs impacting margins and exports. Stocks such as Apollo Hospitals and Persistent Systems, however, bucked the trend after receiving bullish technical calls from analysts at Mirae Asset Sharekhan.

Despite the weak close, market breadth remained positive, reflecting underlying buying interest. Technical indicators suggest near-term support for the Nifty around 24,850, with resistance pegged at 25,150. Gift Nifty futures also hinted at stability near current levels.

Looking ahead, traders are expected to keep a close watch on the Fed’s commentary on interest rates, further developments in the Middle East, and crude oil movements. Domestic cues, including F&O expiry trends and broader economic indicators, will also guide sentiment in the coming sessions.