Indian equity benchmarks retreated on Tuesday, with the NSE Nifty 50 falling 0.34% to 23,865.75 and the BSE Sensex edging 0.33% lower to 76,478.67.
The sell-off was concentrated in the information technology sector, where investors grew concerned that U.S. interest rates may remain elevated for longer than previously anticipated.
This headwind weighed heavily on the broader market, counteracting positive sentiment from other quarters.
Despite the intraday weakness, Indian markets secured monthly gains, driven by a combination of falling crude oil prices and supportive measures from the Reserve Bank of India (RBI).
Lower energy costs have been a consistent tailwind for the Indian economy, helping to ease inflationary pressures and improve the trade balance.
The RBI’s recent policy actions have further bolstered investor confidence, providing a cushion against external volatility.