Indian equity markets couldn’t maintain their recovery, ending at the day’s lows on Tuesday amid volatility, with the Sensex dropping below 79,000 and the Nifty falling from 24,200.

Market breadth was weak, with an NSE advance-decline ratio of 1:3 at the close, indicating widespread losses.

The IT sector was the only outperformer, while the Nifty Financials index was the worst performer. HDFC Bank dropped 3% after MSCI’s rejig announcement, contributing nearly 100 points to the Nifty’s decline. Despite strong Q1 results, Hindalco ended flat but in the red.

HSBC raised its price target for Aurobindo Pharma, boosting its shares by over 3%. Sugar stocks gained up to 6% on news of a potential ethanol price hike. RVNL rose 2% following its inclusion in the MSCI index, while Bandhan Bank fell after being excluded.

Hero Moto dropped 3% from its highs, and Apollo Hospitals gained 1% ahead of its Q1 results. Vodafone Idea slipped 2% as the company posted its third consecutive sequential revenue decline, though losses did narrow.

Aarti Industries plunged 16%, its largest single-day drop in 16 years, after revisiting its guidance. IRCTC fell 2% despite healthy Q1 results. While Samvardhana, FACT, and Patel Engineering fell up to 5% each due to disappointing Q1 results, KPI Green hit the lower circuit limit as news of a QIP launch broke in.

Titan, HCL Tech, Nestle India, Sun Pharma, and Reliance Industries were the top gainers on the BSE, while HDFC Bank, Tata Motors, Tata Steel, Bajaj Finance, and SBI were the top losers.

Sensex ended down 692.89 points, or 0.87%, at 78,956.03, while Nifty closed 208 points, or 0.85%, lower at 24,139.

Overall, market sentiment remained cautious due to investor concerns in a volatile trading environment.

Unlock profitable opportunities every day! Unicorn Signals provides actionable intraday trading signals for stocks and futures. Don’t miss out – download Unicorn Signals and start winning now!