Mumbai, September 29 (TNA) Indian equity benchmarks traded lower on Tuesday, with the Nifty 50 hovering near the 22,700 mark and the Sensex declining around 340 points amid broad-based selling. Weakness in auto, metal and private banking stocks weighed on the market.
The Sensex was down about 340 points to nearly 72,430, while the Nifty 50 slipped close to 70 points to around 22,700. Market sentiment remained cautious after the sharp sell-off in the previous session, when the Nifty closed at 22,780.25, and the Sensex ended at 72,771.72.
Among sectoral indices, Nifty Auto, Nifty Metal and Nifty Private Bank traded in the red. Private banks faced selling pressure, while auto and metal stocks weakened amid concerns over elevated crude prices, global demand and the broader risk-off mood.
Broader markets also remained under pressure, with mid-cap and small-cap stocks witnessing losses. All major sectoral indices had ended lower in the previous session, with auto, metals and banking stocks among the prominent laggards.
Investors continued to monitor crude oil prices, foreign fund flows and geopolitical developments, particularly uncertainty surrounding the US-Iran situation. Analysts said the 22,700 level could act as an immediate support zone for the Nifty, while sustained weakness may keep volatility elevated.