Indian equity markets extended their decline on Tuesday, with the benchmark Nifty 50 and Sensex both falling 1.16% to close at 23,824.10 and 76,200.68, respectively.
The broad-based sell-off was anchored by heavy losses in the information technology and metals sectors, which dragged down the broader indices amid a risk-off sentiment.
The Nifty 50’s breach of the 24,000 level marks a significant technical setback, following a previous slide of more than 520 points in the benchmark Sensex.
The market weakness coincided with the release of soft business activity data, reinforcing concerns about near-term economic momentum.
Investors also remained cautious regarding the monsoon outlook, with worries about rainfall patterns potentially impacting agricultural output and rural consumption.
These macroeconomic headwinds compounded the pressure on domestic equities, which have struggled to find footing in recent sessions.
The Nifty 50’s breach of the 24,000 level marks a significant technical setback, following a previous slide of more than 520 points in the benchmark Sensex.