Indian markets ended lower for the third straight session on Tuesday. Sensex fell nearly 100 points, and Nifty50 closed below 22,100. Buying was seen in oil & gas and PSU stocks, while FMCG and auto stocks declined. Bajaj Auto hit a 52-week low.

Jio Financial Services on Tuesday said it will acquire SBI s entire stake in Jio Payments Bank for Rs 104.54 crore. Jio Financial currently holds 82.17 per cent stake in Jio Payments Bank Limited (JPBL), a joint venture of the Company and State Bank of India (SBI).

Sensex fell 96 points, Nifty dropped 36.65 amid weak global cues. Concord Biotech surged 14.6%, Swiggy, Zomato gained, Voltas, Blue Star rose on summer demand, while Jindal Worldwide, Adani Green Energy, and Bajaj Auto declined.

Prudential Plc is exploring a $12 billion valuation for ICICI Prudential Asset Management Co. in a potential IPO of its Indian unit. The company may file an initial draft prospectus for the Mumbai listing as early as May, according to sources familiar with the matter, who requested anonymity due to the private nature of the discussions.

Swiggy and Zomato shares rose after ICICI Securities reaffirmed its bullish outlook, citing attractive valuations and improved discretionary spending. The brokerage set a ₹740 target for Swiggy (110.4% upside) and ₹310 for Zomato (34.9% gain), dismissing quick commerce concerns.

Long unwinding occurs when investors sell stocks held for an extended period, either to book profits or exit due to expected bearish trends. On Tuesday, five stocks experienced long unwinding.

Equity mutual funds have faced steep losses in 2025, with some funds declining by up to 27%. Among the top losers, Samco Flexi Cap Fund fell the most, followed by Motilal Oswal ELSS Tax Saver Fund and LIC MF Small Cap Fund.

Carborundum Universal surged by up to 8.2% on Tuesday, reaching Rs 912.45 on the BSE, while Praj Industries gained 6.5%, hitting Rs 508. Kotak Equities increased its target price for Carborundum to Rs 980, suggesting a possible 7.4% upside from the current price.

The Indian rupee closed slightly higher on Tuesday tracking a rise in Asian peers, while dollar demand from importers and foreign banks kept a lid on the local unit s gains.

The Nifty50 index has plummeted almost 16%, hitting a historic 10-day losing streak due to heavy foreign institutional investor outflows. With its price-to-earnings ratio dipping below 20, experts see potential signs of market bottoming, particularly in sectors like Infrastructure, Hotels, and Pharmaceuticals.