New Delhi, 29 September (H.S.): Indian equity markets ended lower on Tuesday despite recovering substantially from their intraday lows, as weak global cues weighed on investor sentiment. The session began on a subdued note, with selling pressure emerging soon after the opening and pushing both the Sensex and the Nifty sharply lower within the first half hour of trading.

Buying interest subsequently emerged, helping both benchmark indices recover much of their early losses by around noon. However, selling pressure returned during the second half of the session, limiting the recovery. At the close, the Sensex declined 0.33 per cent, while the Nifty slipped 0.28 per cent.

The BSE Sensex opened at 72,633.68, down 138.04 points, or 0.19 per cent, from its previous close. Mild buying immediately after the opening lifted the index by nearly 50 points to 72,684.90. Selling pressure then intensified, sending the benchmark lower.

Persistent selling dragged the Sensex down by 707.72 points, or 0.97 per cent, to an intraday low of 72,064 within the first half hour. Buyers subsequently stepped in, helping the index regain ground. Supported by renewed buying, the Sensex recovered to around 72,656 by noon.

Selling pressure resurfaced thereafter, causing the index to retreat from its recovery highs. After a day of volatile trading, the Sensex closed at 72,529.07, down 242.65 points, or 0.33 per cent. From its intraday low, the index recovered 465.07 points.

The NSE Nifty followed a similar trajectory, opening at 22,732.45, down 47.80 points, or 0.21 per cent. Initial buying lifted the index by around 21 points to 22,753.20 before renewed selling pushed it lower.

The Nifty fell 210.60 points, or 0.92 per cent, to an intraday low of 22,569.65 within the first half hour. Buying subsequently gathered momentum as investors attempted to support the market, allowing the index to recover steadily. By around noon, the Nifty had climbed to approximately 22,743.65.

Selling resumed later in the session, weakening the index once again. The Nifty eventually closed at 22,716.20, down 64.05 points, or 0.28 per cent. The index recovered 146.55 points from its intraday low.

Among sectors, consumer durables, information technology and automobiles witnessed sustained selling pressure. The BSE Consumer Durables Index fell 1.97 per cent, while the Nifty IT Index declined 1.48 per cent and the Nifty Auto Index ended 1.33 per cent lower.

Banking, capital goods, FMCG, public sector enterprises, and oil and gas stocks also ended in negative territory.

In contrast, metal stocks attracted sustained buying interest, helping the BSE Metal Index gain 0.86 per cent. Pharmaceutical and media stocks also maintained a positive bias amid buying support.

The broader market remained under pressure. The Nifty Midcap Index declined 0.99 per cent, while the Smallcap Index ended 0.81 per cent lower.

The market decline resulted in a substantial erosion of investors’ wealth. The combined market capitalisation of companies listed on the BSE fell to Rs 472.47 lakh crore on a provisional basis at the end of Tuesday’s trading, compared with Rs 475.44 lakh crore at the close of the previous session on Monday. The decline represented a reduction of approximately Rs 2.97 lakh crore in investors’ wealth during the session.

A total of 4,596 stocks were actively traded on the BSE. Of these, 1,975 closed higher, while 2,405 declined and 216 ended unchanged. On the NSE, 3,253 stocks saw active trading, with 1,388 closing in positive territory and 1,865 ending lower.

Among the 30 Sensex constituents, 12 stocks advanced and 18 declined. Of the 50 Nifty constituents, 16 ended higher, while 34 closed lower.

Among the major gainers, Dr. Reddy’s Laboratories rose 2.53 per cent, Kotak Mahindra Bank gained 1.11 per cent, Adani Enterprises advanced 5.01 per cent, Adani Ports gained 4.49 per cent, and Tata Steel rose 0.91 per cent.

On the other hand, Titan Company declined 2.72 per cent, HCL Technologies fell 2.29 per cent, Tata Consultancy Services (TCS) dropped 1.72 per cent, UltraTech Cement declined 1.57 per cent, and Hindustan Unilever fell 1.53 per cent, placing them among the session’s leading laggards.

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Hindusthan Samachar / Jun Sarkar