Mumbai: Indian share markets ended little changed on Tuesday after early gains faded, as losses in heavyweights such as Reliance Industries and information technology stocks outweighed optimism over India United States trade talks and steady corporate earnings.
Benchmark indices opened higher in early trade, supported by positive cues from Asian markets and hopes of progress in trade discussions between India and the United States. Investors initially reacted positively to reports that officials from both sides were engaged in fresh talks aimed at easing trade frictions.
However, the momentum did not last. The Nifty 50 and Sensex slipped into negative territory as the session progressed, dragged down by declines in Reliance Industries and major IT companies. Reliance shares came under pressure amid concerns over supply related issues, while IT stocks faced profit booking following recent earnings announcements and cautious outlooks.
Market sentiment was also affected by global uncertainty after renewed tariff warnings from the United States linked to trade with Iran. These developments raised concerns about higher oil prices and their potential impact on inflation and corporate margins in India.
The Indian rupee weakened against the dollar during the day, adding to investor caution, particularly among foreign portfolio investors. Analysts said currency pressure and global geopolitical risks are likely to keep markets volatile in the near term.
Despite the subdued close, analysts noted that underlying sentiment remains supported by expectations of stable earnings growth and continued dialogue between India and United States. They added that investors are likely to remain selective, focusing on company results and global developments in the days ahead.
Overall, Tuesday’s trade reflected a cautious mood, with early optimism giving way to profit taking and global concerns, leaving Indian equities largely range bound by the end of the session.