Indian Market Closes Lower
Nifty 50 closed at 23,765.5, down 136.65 points or 0.57% from the previous close of 23,897.70. The index opened at 23,883.15 and traded under pressure through the session. The BSE Sensex ended at 76,050.15, losing 465.28 points, as broad-based selling weighed on benchmarks.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 23,765.50 | -136.65 | -0.57% |
| BSE Sensex | 76,050.15 | -465.28 | -0.61% |
Sectoral Drags
Nifty IT tumbled 833.70 points to 29,861.40, leading sectoral declines as technology stocks came under pressure. Nifty Bank shed 282.85 points to close at 57,086.80, adding to the weakness. Metals & Mining outperformed with gains of 16.34%, while Sugar and Electronic Manufacturers also posted advances of 1.93% and 1.92% respectively.
Water Distribution emerged as the top-performing sector with a 1.96% gain. Across broader markets, the decline-advance ratio tilted toward sellers, reflecting cautious sentiment through the day.
GIFT NIFTY Tracks Cash Selloff
GIFT NIFTY ended Session I at 23,828.5, down 166.5 points or 0.69% from the previous close of 23,995.0. The contract opened at 23,999.5 near the session high and drifted lower through the morning, hitting an intraday low of 23,817.0. The contract traded in a 182.5-point range as it tracked the weakness in Nifty 50.
| GIFT NIFTY | Level |
|---|---|
| LTP | 23,828.50 |
| Open | 23,999.50 |
| High | 23,999.50 |
| Low | 23,817.00 |
| Change | -166.50 (-0.69%) |
The contract saw steady selling from the opening bell through midday, with a sharp leg down between 11:45 and 12:00 pushing prices below 23,900. A brief bounce into the afternoon failed to hold, and GIFT NIFTY drifted lower into the cash market close, mirroring the sustained pressure on domestic benchmarks.
Heading Into Session II
GIFT NIFTY stands at 23,828.5 heading into the evening session, trading below both the Indian cash close and its opening level. The contract's discount to Nifty 50 reflects continued caution as traders await cues for the next leg.