Indian equities closed lower for the second straight session on Tuesday as the Sensex and Nifty each slipped about 0.3 percent on the monthly expiry. The Sensex fell nearly 250 points to finish at 76,479 while the Nifty declined more than 80 points to 23,866. India VIX eased slightly to 13.48. Markets stayed in a tight range with mixed moves, according to Vinod Nair of Geojit Investments. Although geopolitical worries have eased, uncertainty around the US-Iran situation kept sentiment cautious. Sector results were uneven, with information technology shares leading the decline. Investors await US jobs data and remarks from the incoming Federal Reserve chair for guidance on rates, as inflation stays elevated yet growth remains solid. Domestically, a weak monsoon outlook raises worries for farm output and related industries ahead of soft first-quarter earnings. Steady crude prices, a stable rupee and slower foreign institutional selling may offer support, with large-cap stocks expected to lead. Wall Street benchmarks are on track for strong quarterly gains despite global tensions. The Nifty moved between 23,850 and 24,050 during the session. Analysts noted mixed signals, with heavy options activity at 24,000 likely to serve as a key reference point for the next series.
