Dalal Street geared up for another session full of volatility on Tuesday. The BSE Sensex started trading near 84,550, crashing close to 150 points, while the NSE Nifty50 rang the opening bell a little below 25,900, losing almost 50 points, around 9:15 AM.
In the pre-open session, both benchmarks gave indications of a muted trade ahead. The Sensex tanked over 150 points and touched 84,531, and the Nifty stood almost flat at 25,941, as of 9:04 AM.
Notably, both indices ended lower on Monday, extending recent losses amid selling pressure in utilities, IT and heavyweight oil and gas stocks, foreign fund outflows and subdued year-end trading activity.
Extending the losing streak to a fourth straight session, the Sensex slipped 345.91 points or 0.41 per cent to close at 84,695.54. The broader Nifty also registered its third consecutive day of decline, shedding 100.20 points or 0.38 per cent to settle below the 26,000 mark at 25,942.10.
Thin Year-End Trade Signals Consolidation Phase
Market participants remained cautious, with trading volumes staying light as investors largely stayed on the sidelines in the absence of fresh triggers. “The market appears short on catalysts for further upside, with investors largely in holiday mode, signalling a potential consolidation phase in the near term,” said Vinod Nair, Head of Research at Geojit Investments Limited.
Ajit Mishra, Senior Vice-President (Research) at Religare Broking Ltd, said market sentiment continues to be driven by global cues and stock-specific developments. He added that participants are preferring selective exposure rather than broad-based positioning amid limited near-term triggers.
