Indian stock markets closed marginally lower on Tuesday as profit booking after a four-day rally outweighed positive early momentum. The benchmark BSE Sensex fell 104.35 points (0.13%) to close at 78,180.72, while the NSE Nifty 50 declined 0.13% to settle at 24,398.70.
The market opened on a positive note and the Sensex climbed nearly 380 points during intraday trade. However, investors chose to lock in profits during the final hours of trading, leading both indices to end in the red. Weak trends across Asian markets also weighed on investor sentiment.
Sector-wise, information technology stocks outperformed the broader market, supported by optimism ahead of the upcoming quarterly earnings announcements. In contrast, banking, financial, and select heavyweight stocks witnessed selling pressure, dragging the benchmarks lower.
Broader markets also remained under pressure, with the mid-cap and small-cap indices ending lower as investors adopted a cautious approach before the earnings season gathers pace.
Market experts believe the recent correction is largely a result of healthy profit booking following four consecutive sessions of gains rather than a reversal in the overall trend. They expect corporate earnings, foreign institutional investor (FII) activity, crude oil prices, and global market developments to determine the market's next direction in the coming sessions.
