Disappointing Q2 results from key companies dragged down the market. IndusInd Bank plunged 18.5%, contributing 136 points to the Sensex’s loss, while NTPC dropped 3% due to poor earnings performance. Analysts are lowering FY25 earnings forecasts, turning market sentiment bearish.

Indian markets declined for the fourth straight session, with the Sensex closing at 80,065.16 (-17 points) and Nifty at 24,399.40 (-36.10 points). Nifty Bank bucked the trend, gaining 292.15 points (+0.57%) to end at 51,531.15.

Sensex and Nifty50 both ended in the red due to weak corporate earnings and persistent foreign selling. Sensex dropped 138 points to close at 80,081, while Nifty slipped 36 points to settle at 24,435.

Corporate earnings, after 4 years of strong double-digit growth, are starting to moderate. Markets came under pressure after many blue-chip & other companies reported disappointing Q2 results. Following these results, investors are now shifting towards more defensive stocks.

The Sensex fell 73 points to 81,151, and the Nifty also dropped 73 points to 24,781 due to lackluster earnings and profit-booking despite HDFC Bank's strong results.

The Nifty 50 and S&P BSE Sensex opened 0.3% higher but reversed to hit day’s lows of 24,694 and 80,726 points, respectively.

IT companies rallied up to 4% after Accenture's better-than-expected earnings, driven by AI service demand. Major gainers included Infosys, Wipro, Tech Mahindra, and Coforge.

Nifty Auto index rose by 2.3%, buoyed by positive sentiment in domestic auto firms following Karnataka's plans to waive taxes for hybrid cars and offer incentives for electric vehicles (EVs). Maruti Suzuki, which sells hybrid vehicles, saw a 4.8% increase, marking its largest daily percentage gain in nearly three months.

Indian markets have been on a roll ever since Fed rate cuts happened. For the last 4 straight sessions, the Sensex and Nifty have been hitting record highs as well. After a sluggish start, Sensex and Nifty closed at fresh highs on Monday, due to gains in banking and energy stocks. Sensex closed at 85,169, while the broader NSE Nifty ended at 26,004.

Nifty50 and Sensex made history earlier in the day, with Nifty surpassing the 26,000 mark and Sensex crossing 85,000 for the first time. However, after hitting record highs both the indices closed flat on Tuesday. Sensex closed at 84,914, while the broader NSE Nifty ended at 25,940.