"Technically, despite the day's decline, the benchmark index Nifty managed to close above its 20-day EMA, which continues to act as an..."
Indian Equity Markets End Lower Amid Geopolitical Tensions, FOMC Meeting Ahead
The Indian equity market indices ended on a negative note on Tuesday, registering moderate losses amid rising concerns over the potential escalation of conflicts in the Middle East and caution ahead of the U.S. Federal Reserve’s FOMC meeting, ANI reported.
The 30-share BSE Sensex declined 212.85 points, or 0.26%, to close at 81,583.30. During intraday trade, it fell as much as 369.14 points, or 0.45%, to touch a low of 81,427.01.
Meanwhile, the Nifty 50 dropped 93.10 points, or 0.37%, to settle at 24,853.40.
Among the Nifty constituents, Tech Mahindra and Infosys led the gainers’ pack. On the other hand, Nifty Pharma and Nifty Healthcare indices were the worst performers of the day, reacting negatively to a statement by former U.S. President Donald Trump, who hinted at the possibility of imposing new tariffs on pharmaceutical imports.
In its Market Closing Commentary, as quoted by ANI, SBI Securities said:
"Technically, despite the day's decline, the benchmark index Nifty managed to close above its 20-day EMA, which continues to act as an immediate support zone. However, momentum indicators and oscillators are showing signs of fatigue, reflecting a lack of clear directional strength. This suggests that the index may remain in a consolidation phase unless a decisive breakout occurs on either side."
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