Mumbai, Dec 30 || Indian benchmark indices traded in the red zone early on Tuesday, weighed down by negative global cues, tech sell-off at Wall Street and continued selling by foreign portfolio investors (FPIs).
Around 9.30 am, the Sensex moved down 115 points, or 0.14 per cent to 84,579 and the Nifty eased 30 points, or 0.12 per cent to 25,911.
Main broad cap indices performed in line with benchmark indices, with the Nifty Midcap 100 declined 0.03 per cent, while the Nifty Smallcap 100 lost 0.08 per cent.
Among sectoral gainers, the Nifty PSU Bank was the top loser, down 0.18 per cent, followed by Nifty Realty, which lost 0.13 per cent.
Immediate support is placed at 25,850–25,900 zone, while 26,150–26,200 remains a crucial resistance band, said analysts.
They said that the year-end trend, though weak, does not indicate a directional shift in the market, adding that since the advance-decline ratio favoured declines, Nifty fell 100 points yesterday, despite thin volumes.
A clear directional change will happen early in the new year when large institutions are back in action. It would be better for investors to wait for new triggers and directional moves, market watchers said.