The stock market erased some of the previous session’s gains on Tuesday, ending lower in a volatile trading session as continued tensions between Iran and Israel weighed on investor sentiment.
The two nations exchanged attacks for the fifth consecutive day, reinforcing risk-off sentiment across markets.
At close, the Sensex fell 212.85 points or 0.26% to 81,583.30, while the Nifty declined 93.10 points or 0.37% to 24,853.40.
Mid-cap and small-cap segments underperformed, with the BSE Midcap index down 0.56% and the Smallcap index falling 0.67%.
The overall market capitalisation of BSE-listed companies dropped to nearly ₹448 lakh crore from around ₹450.5 lakh crore in the previous session.
On the Nifty50, around 11 stocks ended in the green. Notable gainers included Tech Mahindra (up 1.66%), Infosys (up 0.87%), and Asian Paints (up 0.86%).
Among the top losers were Adani Enterprises (down 2.31%), Eicher Motors (down 2.06%), and Dr. Reddy’s Laboratories (down 2%).
In terms of sectoral performance, barring Nifty IT, which gained 0.72%, all other indices ended in the red. Nifty Pharma dropped 1.89%, Healthcare declined 1.79%, and Metal shed 1.43%. Nifty Bank fell 0.41%, while Financial Services slipped 0.39%.
On the BSE, nearly 80 stocks touched their 52-week highs, including Maharashtra Scooters, Navin Fluorine, Aditya Birla Capital, Intellect Design Arena, Solar Industries, Muthoot Finance, Lloyds Metals, Bharat Electronics, Max Healthcare, and Laurus Labs.
Pharma stocks witnessed sharp declines after former US President Donald Trump warned that pharmaceutical tariffs would be imposed soon. The Nifty Pharma index plunged nearly 2% to close at 21,623, making it the top sectoral loser.
Key pharma names such as Dr. Reddy’s Laboratories, Divi’s Labs, and Zydus Life fell over 2% each, while Sun Pharma, Cipla, and Glenmark Pharma dropped more than 1.5%.
Metal stocks also faced selling pressure due to concerns that geopolitical tensions could dent global demand for base metals, leading to a 1.45% fall in the Nifty Metal index.
Globally, US markets closed higher as oil prices retreated, with crude output and exports remaining unaffected by the Israel-Iran conflict. Meanwhile, European stocks traded lower amid rising geopolitical concerns, while most Asian markets ended higher.