Indian markets closed nearly flat on Tuesday, with the Sensex down 69.86 points, or 0.09 per cent, at 76,765.92, in a session closely tracked by business analysts for earnings-driven stock moves.

The Nifty 50 slipped 10.60 points, or 0.04 per cent, to settle at 23,985.35.

Bank Nifty fell 331.60 points, or 0.58 per cent, to close at 56,755.60.

IT stocks were the standout performers for businesses and investors tracking the sector, with the Nifty IT index up 3.32 per cent on strong gains from TCS and Tech Mahindra.

Hindustan Unilever’s stock fell nearly 7 per cent after its quarterly earnings missed market expectations, a result closely watched given the company’s weight in the consumer goods sector.

Coal India also declined more than 4 per cent on a weaker-than-expected quarterly profit, attributed to lower production volumes and higher operating costs, while Bharat Electronics also featured among the top losers.

The Nifty Midcap index gained 0.08 per cent, while the Nifty Smallcap index, closely tracked by smaller business investors, eased 0.22 per cent.

The session followed a sharp rally on Monday, when the market snapped a five-day losing streak driven by falling crude oil prices, a factor with direct implications for business input costs across sectors.

Coal India’s decline reflected wider concerns among investors about production volumes at state-run mining companies, a theme that has recurred in past quarters and continues to weigh on sentiment around the stock.

Analysts tracking the session noted that the muted overall movement in the headline indices masked sharper swings at the sector and stock level, with earnings reactions driving much of Tuesday’s price action.

Tuesday’s session unfolded against a backdrop of mixed global cues, with several Asian markets, including Japan’s Nikkei, South Korea’s Kospi and China’s Shanghai Composite, also trading lower during the day.

Market participants said the earnings season remained a key driver of stock-specific moves this week, with several large companies due to report their quarterly results in the coming days.

(Image: Niyantha Shekhar (CC BY 2.0))