Selling pressure continued in the market amid consolidation on February 25 as investors assessed the economic impact of the deadly coronavirus that has so far claimed over 2,700 lives and infected over 80,000.
The BSE Sensex was down 82.03 points at 40,281.20, while the Nifty 50 fell 31.50 points to 11,797.90, forming a bearish candle on daily charts.
Market breadth was in favour of bears as about three shares declined for every two shares rising on the BSE.
"The underlying short term trend of Nifty continues to be weak. Tuesday's consolidation could be considered as a temporary halt in the downside momentum. The immediate gap supports of 11,750 could be broken on the downside in the coming sessions and the Nifty could reach or slide just below the next support of 11,615 in the next few sessions," Nagaraj Shetti, Technical Research Analyst at HDFC Securities told Moneycontrol.