Indian Market Close
The Nifty 50 closed at 23,379.55, down 436.30 points or 1.83%, as selling pressure mounted through the session. The BSE Sensex shed 1,283 points or 1.69% to settle at 74,732, marking a sharp reversal from earlier gains.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 23,379.55 | -436.30 | -1.83% |
| BSE Sensex | 74,732.00 | -1,283.00 | -1.69% |
Market Drivers
The session witnessed strong intraday volatility. After climbing above 23,450 in morning trade with the Sensex gaining over 150 points, indices reversed sharply to close near session lows. Elevated oil prices and broad-based selling across sectors weighed on sentiment through the afternoon.
Tech Mahindra led the Sensex losers with a 4.21% decline, followed by Adani Ports which dropped 4.10%. The technology and port logistics sectors bore the brunt of the selloff. Despite the late-session recovery attempt that saw the Sensex surge nearly 1,000 points from intraday lows, bulls failed to sustain gains into the close.
Bharti Airtel closed at ₹1,759.80 after trading between ₹1,751.50 and ₹1,776.50, while Eicher Motors settled at ₹7,202.50 following an intraday range of ₹7,155.00 to ₹7,275.50. Banking and auto stocks saw mixed action as the broader market struggled for direction.
GIFT Nifty Session
GIFT Nifty closed at 23,456.50, up 56 points or 0.24% from the previous close of 23,400.50, diverging from the steep losses in the cash market. The derivatives contract opened at 23,399.50 and traded in a 307.50-point range between 23,301.00 and 23,608.50 through the extended session.
| Metric | Level |
|---|---|
| LTP | 23,456.50 |
| Open | 23,399.50 |
| High | 23,608.50 |
| Low | 23,301.00 |
| Change | +56.00 (+0.24%) |
The offshore contract showed volatile two-way action through the day. After drifting lower in early Asian hours, GIFT Nifty rallied sharply during Indian market hours, hitting an intraday peak of 23,608.50 around 15:25 IST before paring gains. The contract lagged the cash market's late-session weakness, holding above 23,400 through most of the afternoon despite the Nifty 50's slide below 23,380.
Session II Outlook
GIFT Nifty heads into the evening session at 23,456.50, trading 77 points above the Nifty 50 cash close, with global cues and overnight developments likely to set the tone for Wednesday's opening.