On Tuesday, the S&P BSE Sensex experienced a decline of 456.1 points, equivalent to 0.62%, settling at 72,943.68, while the broader NSE Nifty50 saw a loss of 112.4 points, or 0.50%, concluding at 22,160.1.
The day closed with benchmark stock indices experiencing a downtrend, primarily fueled by concerns surrounding the ongoing Middle East conflict and the waning prospects of imminent rate cuts in the US.
The S&P BSE Sensex registered a decrease of 0.62%, reaching 72,943.68, while the NSE Nifty50 witnessed a decline of 0.56%, settling at 22,147.90.
Following their record-high closings on April 10, both indices have seen a collective downturn of 2.7% over the last three sessions, marking their most prolonged losing streak of the year.
Simultaneously, Asian markets mirrored the decline, prompting investors to seek refuge in assets like gold and the US dollar, known for their safe-haven status, particularly in response to Iran's recent deployment of explosive drones and missiles toward Israel.
US-sensitive IT stocks experienced a notable slump of 2.58%, hitting a four-month low, with Infosys leading the losses on the Nifty 50, plummeting by 3.66%, followed by LTIMindtree, which saw a decline of 3.16% consequent to the departure of two senior executives.
Financials witnessed a decrease of 0.22%, with IndusInd Bank and Bajaj Finserv ranking among the top five Nifty losers, witnessing declines of 3.18% and 2.31%, respectively.
On the positive side, Jio Financial Services recorded a gain of 2.13% after announcing a collaborative venture with BlackRock to establish a wealth management and broking enterprise in India. Additionally, ONGC observed a rise of 1.18% after Jefferies included the stock in its India model portfolio.
Small-cap stocks managed to secure a gain of 0.75%, whereas mid-caps concluded marginally lower by 0.09%.
Indian markets will remain shuttered on Wednesday in observance of a local holiday and will resume trading activities on Thursday, April 18.
