Mumbai, Aug 4: Indian benchmark equity indices ended lower on Tuesday, breaking a four-session winning streak as investors turned cautious ahead of the Reserve Bank of India’s monetary policy announcement scheduled for Wednesday.
The BSE Sensex declined 210.08 points, or 0.27 per cent, to close at 78,428.95, while the NSE Nifty fell 159.40 points, or 0.64 per cent, to settle at 24,614.90.
Market sentiment remained subdued as investors preferred to adopt a wait-and-watch approach before the RBI’s policy decision. Weakness in banking, financial services and information technology stocks weighed on the indices during the session.
Analysts said the Nifty witnessed selling pressure through most of the trading day, moving towards the 24,400 support zone before recovering partially. The index touched an intra-day low of 24,428 but failed to sustain gains as buying interest remained limited.
Experts said the 24,500 level has emerged as an immediate resistance zone, while a sustained break below the 24,400 mark could trigger further profit booking towards the 24,300 level.
Among major Nifty stocks, Grasim Industries, HDFC Life Insurance Company and Hindustan Unilever were among the biggest laggards, putting pressure on the benchmark index.
Sector-wise, the Nifty Realty index witnessed the sharpest decline, falling more than 2 per cent amid selling pressure. The FMCG, Private Bank and Bank Nifty indices also ended in negative territory.
The broader market displayed mixed trends, with the Nifty MidCap index declining 0.29 per cent, while the Nifty SmallCap index gained 0.23 per cent, showing selective buying interest among smaller companies.
Investors remained focused on the RBI’s upcoming policy outcome, particularly signals on interest rates, inflation outlook, liquidity conditions and economic growth.
Market participants said the central bank’s commentary will be closely watched for future direction, with the policy decision expected to influence equity market sentiment in the near term.
Despite the day’s decline, analysts said the broader market outlook remains supported by domestic economic fundamentals, corporate earnings growth and long-term investment trends.