Indian Markets End Sharply Lower
The Nifty 50 closed at 24,450.45, down 315.45 points or 1.27%, while the Sensex settled at 77,035.16, losing 1,170.82 points or 1.50%. The session saw sustained selling pressure across most sectors, with both benchmarks slipping into negative territory early in the day and failing to stage a meaningful recovery.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 24,450.45 | -315.45 | -1.27% |
| Sensex | 77,035.16 | -1,170.82 | -1.50% |
Banking and IT Weigh on Benchmarks
Nifty Bank bore the brunt of the selloff, tumbling 1,038.70 points or 1.82% to close at 55,912.10. The IT index also declined sharply, shedding 276.95 points or 0.92% to end at 29,747.05. Auto stocks contributed to the downdraft as well, with the sector adding to the broader market weakness.
The intraday range for Nifty 50 spanned from a high of 24,700.90 to a low of 24,415.75, reflecting volatile trading conditions. Among individual stocks, Maruti Suzuki closed at ₹13,721, down from an intraday high of ₹13,909, while ICICI Bank settled at ₹1,287.60 after touching ₹1,315 earlier in the session.
GIFT NIFTY Tracks Domestic Weakness
GIFT NIFTY ended at 23,922.0, down 346.0 points or 1.43% from its previous close of 24,268.0. The contract opened at 24,313.5 and touched a session high of 24,352.0 before sliding to an intraday low of 23,884.5. The offshore derivative mirrored the cash market's decline through the session.
| Metric | Level |
|---|---|
| LTP | 23,922.0 |
| Open | 24,313.5 |
| High | 24,352.0 |
| Low | 23,884.5 |
| Change | -346.0 (-1.43%) |
After opening firm in overnight trade and testing the 24,470 level early in the Asian session, GIFT NIFTY reversed sharply lower from mid-morning onwards. The contract saw accelerated selling through the afternoon, with the steepest declines coming after 12:00 SGT as it broke below the 24,100 mark and continued sliding toward the 23,900 level by late afternoon.
Session II Outlook
GIFT NIFTY heads into Session II at 23,922, nearly 470 points below its overnight high, with the cash market discount persisting. The contract settled 528 points below the Nifty 50 close, maintaining a negative bias as global markets digest the day's moves.