India’s Nifty 50 slips 0.15% as trade closes

India’s benchmark Nifty 50 index declined 0.15% to close lower on Tuesday, as investors weighed mixed corporate earnings and global market sentiment.

The Nifty 50, which tracks 50 of the largest and most liquid stocks on the National Stock Exchange, fell 60.25 points to 39,684.75. The index had earlier touched an intraday high of 39,850.20 before paring gains.

Declines in financial and energy stocks led the broader market lower, offsetting gains in technology and consumer goods shares. The Nifty Bank index, which tracks banking heavyweights, slipped 0.35%, while the Nifty Energy index fell 0.45%. In contrast, the Nifty IT index advanced 0.65%, supported by gains in Tata Consultancy Services and Infosys.

Trading volumes remained robust, with over 1.2 billion shares changing hands on the NSE. Foreign institutional investors turned net sellers, offloading shares worth 12.4 billion rupees ($149 million), while domestic institutional investors were net buyers, purchasing shares worth 14.7 billion rupees.

Analysts attributed the mixed performance to cautious investor sentiment ahead of key U.S. economic data releases and the Federal Reserve’s policy outlook. Corporate earnings from major firms in the Nifty 50 are due later this week, with investors closely monitoring results from Reliance Industries and HDFC Bank.

The broader market sentiment was also influenced by global factors, including concerns over China’s economic slowdown and geopolitical tensions in the Middle East. The Indian rupee strengthened marginally against the U.S. dollar, trading at 83.25 per dollar, up from 83.30 at the previous close.

For the week, the Nifty 50 has declined 0.8%, reflecting cautious trading amid uncertainty over global growth and domestic policy direction.