Benchmark indices partially recovered from morning losses on Tuesday as banking and financial stocks gained ground, though the market remained under pressure from global trade concerns.

The BSE Sensex traded at 72,927.70 at 12.45 PM, down 158.24 points or 0.22 per cent from its previous close. The index opened lower at 72,817.34 but recouped some losses during morning trade. Similarly, the NSE Nifty50 was trading at 22,072.25, down 47.05 points or 0.21 per cent after opening at 21,974.45.

The broader market showed mixed performance with the Nifty Next 50 index gaining 0.35 per cent to reach 57,845.90, while the Nifty Midcap Select index declined 0.23 per cent to 10,841.45. Banking stocks outperformed the benchmark indices, with the Nifty Bank index rising 0.31 per cent to 48,263.60 and Nifty Financial Services increasing 0.30 per cent to 23,022.00.

State Bank of India led the gainers on the NSE, surging 2.98 per cent to Rs 716.05 with robust trading volume of over 88.34 lakh shares. Other top gainers included Bharat Electronics Limited (BEL) up 2.54 per cent, Bharat Petroleum Corporation Limited (BPCL) rising 1.67 per cent, Trent advancing 1.36 per cent, and Tata Consultancy Services (TCS) gaining 1.08 per cent.

The auto sector faced significant selling pressure with Bajaj Auto dropping 3.90 per cent to Rs 7,414, making it the top loser on the NSE. Hero MotoCorp fell 2.88 per cent, while Bajaj Finserv declined 2.41 per cent. Nestle India and HCL Technologies also featured among major losers, falling 2.27 per cent and 1.83 per cent respectively.

Market breadth remained positive with 2,218 stocks advancing against 1,581 declines and 157 unchanged on the BSE. However, the market witnessed 504 stocks hitting 52-week lows compared to just 48 stocks reaching 52-week highs, indicating underlying weakness. Additionally, 274 stocks hit the lower circuit while 152 stocks reached the upper circuit.

The partial recovery comes amid continuing concerns about U.S. tariffs and their potential impact on global trade, with crude oil prices remaining weak at three-month lows. Foreign institutional investors (FIIs) have maintained their selling stance, though domestic institutional buying appears to be providing some support to the market.