The Sensex slipped in early trade on Tuesday, dipping below the 82,000 mark as selling picked up in some of the most-watched stocks. The index opened with a soft tone and kept drifting as names like Tata Motors and ITC came under pressure. There’s no panic in the market, but you can tell buyers are being selective now, especially near last week’s highs.
Among the biggest drags was Tata Motors, which extended losses after the company’s annual report flagged a ₹38,892 crore global tax outgo for FY25. That figure spooked investors, especially after a strong run-up earlier this quarter. The stock is down over 1% intraday, contributing heavily to the index’s negative tone.
ITC dropped ahead of its May 28 dividend record date. The stock had recently touched fresh local highs, and the dip today reflects investor rotation out of dividend-capture trades. It remains one of the most searched stocks on the Sensex this week.
From a technical view, the Sensex looks tired just under that 83,683 level, traders keep watching. RSI has cooled, and momentum isn’t as convincing as it was earlier in the month. Unless something shifts, we might not see a clean breakout just yet. For now, dips toward 80,000 may attract attention if this slide stretches into Wednesday.
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