Indian stock indices continued to trade in the red on Tuesday, extending losses from the previous session, primarily attributable to profit booking after a stellar cumulative performance in 2023. High valuations, as analysts pointed out, too, are a concern.
Benchmark indices – Sensex and Nifty — settled Tuesday’s session 0.4-0.5 per cent lower from the previous session.
“Markets traded volatile for yet another session and lost nearly half a per cent, in continuation to the prevailing consolidation phase. The beginning was subdued and pressure in the banking, auto and IT majors was weighing on the sentiment however resilience in the pharma and energy majors capped the damage,” said Ajit Mishra, SVP – of Technical Research at Religare Broking.
