Equity benchmarks turned negative by midday on Tuesday, weighed down by heavy selling in select index heavyweights, with the Nifty 50 slipping 84.10 points or 0.32 per cent to 26,166.20 and the declining 419.08 points or 0.49 per cent to 85,020.54 as of 1.18 pm.
Market breadth remained negative, with 2,396 stocks declining against 1,621 advances on the BSE. A total of 125 stocks hit 52-week highs while 100 touched 52-week lows. As many as 147 stocks were locked in upper circuit and 134 in lower circuit.
The selloff was led by retail major , which plunged 7.65 per cent to ₹4,090.80, emerging as the top loser on the Nifty 50. tumbled 4.59 per cent to ₹1,505.60, adding to the downward pressure on the benchmarks. Kotak Mahindra Bank shed 2.36 per cent to ₹2,139.10, while ITC declined 1.83 per cent to ₹343.30 and Jio Financial Services dropped 1.60 per cent to ₹295.60.
On the gainers’ side, Apollo Hospitals rallied 3.44 per cent to ₹7,326.50, leading the pack. ICICI Bank advanced 2.79 per cent to ₹1,409.80, while Bajaj Auto gained 2.56 per cent to ₹9,740.50. Hindalco climbed 2.31 per cent to ₹953.25 and HDFC Life rose 2.21 per cent to ₹776.05.
Sectoral indices showed mixed movement, with Nifty Financial Services up 0.23 per cent at 27,999.05 and Nifty Bank rising 0.16 per cent to 60,210.80. However, Nifty Midcap 100 slipped 0.14 per cent to 61,311.40 and Nifty Smallcap 100 fell 0.12 per cent to 17,970.75. Nifty Next 50 bucked the trend, gaining 0.28 per cent to 70,566.60.
Markets opened on a subdued note, with the Sensex starting at 85,331.14 against its previous close of 85,439.62, while the opened at 26,189.70 compared with Friday’s close of 26,250.30. Trading activity has been marked by weekly options expiry-related flows, with investors closely watching developments ahead of the third-quarter earnings season.