Markets continued to trade in negative territory at midday on Tuesday, with the Nifty 50 slipping below the psychologically important 24,200 level and the Sensex extending losses as crude oil prices held firm and geopolitical tensions showed no signs of easing.
As of 1.05 pm, the Sensex was trading at 77,339.36, down 388.80 points or 0.50 per cent from Monday’s close of 77,728.16, while the Nifty 50 was at 24,186.40, down 101.25 points or 0.42 per cent from its previous close of 24,287.65, putting both indices on course for a sixth consecutive session of losses.
Market breadth on the BSE remained negative, with 2,267 stocks declining against 1,828 advancing out of 4,312 traded. A total of 199 stocks hit lower circuits against 178 in upper circuits, while 75 stocks touched 52-week lows compared to 162 at 52-week highs, reflecting the cautious undertone across the broader market.
The information technology sector remained under the heaviest pressure through the session. Infosys was the biggest loser among Nifty 50 stocks, falling 2.34 per cent to ₹1,113.20.
HCL Technologies shed 2.05 per cent to ₹1,297.80, Tech Mahindra slipped 1.75 per cent to ₹1,581.90, and Tata Motors’ passenger vehicle arm TMPV declined 1.85 per cent to ₹324.10. Asian Paints was the worst performer on the index, down 2.40 per cent to ₹2,622.90, deepening the losses it had seen in the morning session.
On the other side of the ledger, automobiles and financials provided pockets of support. Mahindra & Mahindra was the top gainer, up 0.98 per cent to ₹3,423.60 on heavy volumes worth over ₹26,751 crore. Retail chain Trent gained 0.96 per cent to ₹2,974.30, Axis Bank rose 0.77 per cent to ₹1,236.80, Bajaj Finance advanced 0.73 per cent to ₹1,097.20, and Reliance Industries edged up 0.54 per cent to ₹1,323.10, making it among the few heavyweights offering support to the index at midday.
WTI crude oil continued to trade near $84.40 per barrel, having broken out of its previous $81–$83 range, while MCX Crude Oil was near ₹8,150, trading above all major exponential moving averages with the MACD confirming a bullish crossover.
The rupee weakened further to around ₹95.65 per dollar, with the USD/INR pair moving above its ascending trendline and momentum indicators pointing to further near-term weakness for the domestic currency.
Precious metals pulled back in the session. COMEX Gold was trading near $4,449.10, down $24.60 or 0.55 per cent after touching a high of $4,493.10 earlier, while MCX Gold was near ₹154,977, down ₹963 or 0.62 per cent.
COMEX Silver fell 1.41 per cent to $65.295, and MCX Silver was down 1.03 per cent to ₹235,594, with both metals consolidating after recent gains even as their broader uptrends remained intact above key support levels.
Technically, the Nifty 50’s breach of the 24,200 mark, where the 50-day and 100-day EMAs converge, is being watched closely.
The RSI has declined to around 47, indicating that bearish momentum is gradually strengthening. The index needs to reclaim 24,400 to stabilise near-term structure, failing which selling pressure could build toward the 24,000 level. Bank Nifty, which opened with a mild gap-down near 57,331, was holding above the 57,200–57,100 support zone at midday, with a move above 57,500 needed to build any meaningful recovery.
With the weekly derivatives expiry adding to intraday volatility and no fresh positive catalysts in sight, traders were broadly staying on the sidelines ahead of further cues from global markets through the afternoon.
Published on August 18, 2026
