Technically, momentum indicators still point to a negative trend, with the index below its short-term moving averages.

On Monday, the Indian market opened positively and closed higher after fluctuating throughout the day, marking an end to a five-day decline.

ICICI Bank's shares rose by 3 percent after better-than-expected results for the second quarter, prompting brokerages to raise their target price for the stock to Rs 1,600

The current geopolitical situation and Donald Trump's lead in key states are boosting Indian market sentiment, although lackluster corporate earnings are tempering enthusiasm

The down trend is likely to persist if Nifty moves below its immediate support level of 24,070

The Bank Nifty dropped by 1.65%, and both benchmark indices fell by 0.60%

On the sectoral front, banking, pharma, and financial services emerged as the top gainers, while FMCG, realty, auto, and metals were the major losers.

Nvidia has partnered with Reliance and major IT firms to develop an Indian intelligence infrastructure, making a positive development in the market.

Some brokerages have raised the target price for Paytm stock to Rs 900, and on the other hand, SBI Life shares fell by 5% due to results that were worse than expected.

The IMF and Goldman Sachs project a slowdown in India's GDP growth this year, with declines expected in the second and third quarters.