The Nifty 50 benchmark index struggled to hold gains above the 24,000 level on Tuesday, slipping into negative territory shortly after opening.
Sharp selling in information technology stocks dragged down the broader market, erasing early optimism and capping upside potential for the session.
Despite the tech-led weakness, sentiment received some support from crude oil prices trading below the $80 per barrel threshold.
Despite the tech-led weakness, sentiment received some support from crude oil prices trading below the $80 per barrel threshold.
Lower energy costs typically ease inflationary pressures and improve corporate margins, providing a counterbalance to the equity sell-off.
However, this macroeconomic tailwind was insufficient to prevent the index from turning red.
Sector performance was mixed, with pharmaceutical and financial services stocks offering limited defensive cover against the broader downturn.