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On the technical charts, Nifty formed a huge bearish engulfing candlestick. It broke the crucial support of 21,300 with a head and shoulder pattern. Now the next support lies at 21,000 coinciding with the 50-day moving average (DMA), says Sheersham Gupta, director and senior technical analyst at Rupeezy

The company’s revenue for the quarter stood at Rs 1241 crore, an increase of over 56% y-o-y. The company’s sales volume for the quarter stood at 1.63 msft with a robust collection of Rs 941 crore.

The Nifty Realty index was trading 1.75 per cent down at 846.9.

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Sectorally, selling was seen in realty, public sector, metal, oil & gas, and energy space while some buying was seen in healthcare. Sharp selloff was also seen in the small & midcap spaces, which plunged nearly 3% each.

Indian design and technology services company Tata Elxsi reported a 6% rise in third-quarter profit on Tuesday, helped by healthy demand in its transportation segment.

Nasdaq-listed MakeMyTrip reported gross bookings of $ 2088.3 million in its results for the quarter ended December 31, up 22% year on year. The company reported a profit of $24.2 million for the quarter under review, up from $0.2 million in quarter three of fiscal year 2023 .

Procter & Gamble cut its annual profit forecast on Tuesday as the boost from earlier price hikes fades in the U.S. and after writing down the value of its Gillette business in December.