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Sensex Falls 111 Points, Nifty Ends at 23,618; Rupee Hits Record Low as IT Stocks Support Market

Sensex Falls 111 Points, Nifty Ends at 23,618; Rupee Hits Record Low as IT Stocks Support Market

The Indian stock market witnessed a volatile trading session on Tuesday. Both Sensex and Nifty attempted to recover during the day, but selling pressure pulled the indices lower by the close. The Sensex ended 111 points down, while the Nifty settled at 23,618.

Investor sentiment remained cautious due to multiple macro concerns, including weakness in the rupee, rising West Asia tensions, and the recent hike in petrol and diesel prices. The rupee also added to market worries as it slipped 17 paise against the US dollar and touched a new low of ₹96.53 per dollar, compared with its previous close of ₹96.36.

Sector-wise, IT stocks provided strong support to the market. Shares of Infosys, TCS, and Tech Mahindra were among the top gainers on the Nifty50, while the Nifty IT index rose nearly 4%. Apart from IT, sectors like chemicals, auto, and FMCG also showed relatively better performance during the session.

However, selling pressure in banking and financial stocks weighed on the overall market. The Nifty Private Bank index emerged as one of the weakest sectors, limiting gains in the benchmark indices. On the broader market front, midcap and smallcap stocks saw buying interest, with both indices trading over 1% higher.

Another major factor impacting sentiment was the fuel price hike. Petrol and diesel prices were increased by 90 paise on Tuesday, marking the second hike in less than a week. Concerns over the West Asia conflict and possible energy supply disruptions continued to put pressure on crude oil and fuel prices.

Overall, the market saw strong stock-specific action, but broader sentiment remained under pressure due to rupee weakness, crude oil concerns, geopolitical uncertainty, and Q4 earnings. For retail investors, the key takeaway is simple: avoid panic during news-driven volatility and focus on risk management and a long-term investment plan.

This news is for information only and is not investment advice. Please do your own research before making investment decisions.