The Indian stock market witnessed a third consecutive day of decline on Tuesday, April 16, as both the Sensex and the Nifty 50 closed in the red. Notably, key IT sector stocks such as Infosys, Tech Mahindra, Wipro, HCL Tech, and TCS experienced significant downturns, contributing to the overall market slide amidst subdued global sentiments.
The market sentiment remained subdued primarily due to weak global cues, notably influenced by robust US retail sales figures for March. Concerns heightened over potential delays in anticipated rate cuts by the US Federal Reserve this year, adding to investor caution.
Closing figures for the day reflected the market's downturn, with the Sensex concluding 465 points lower at 72,934.56, marking a decrease of 0.63%. Similarly, the Nifty 50 ended the session with a loss of 96 points, or 0.43%, settling at 22,176.75.
The persistent downward trend in the stock market underscores ongoing market volatility and the impact of global economic factors on domestic indices.