HDFC Bank and Tata Motors led a significant decline in Indian equity markets on Tuesday, dragging the Sensex down by 350 points. The benchmark index fell to 79,299 as these heavyweights faced selling pressure. The broader Nifty50 also slipped below the 24,250 mark, reflecting a bearish trend in the market.
HDFC Bank, one of the largest contributors to the Sensex, saw its shares drop by over 2.4%, while Tata Motors also recorded a steep decline, contributing heavily to the market’s downward movement. Other major laggards included Asian Paints, Bajaj Finance, and Tata Steel.
This sharp decline comes amid overall market volatility, with investors reacting to global cues and domestic concerns. The broader market indices, however, showed some resilience, with the BSE Midcap and Smallcap indices holding steady.
Sectoral performance was mixed, with significant selling in the financial services and auto sectors. On the other hand, sectors like realty and IT showed relative strength, limiting the downside.
Market sentiment remains cautious, with investors closely monitoring global trends and economic data. The continued pressure on major stocks like HDFC Bank and Tata Motors could set the tone for the rest of the trading session.
