The Nifty 50 closed below 23,700 on Thursday, slipping 0.53% from the previous session's close of 23,996.25, as selling pressure in auto and realty stocks weighed on broader market sentiment. The S&P BSE Sensex also declined 0.47% to close at 76,391.39. Market participants booked profits after recent gains, with sectoral weakness dragging the benchmarks lower through the afternoon.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 23,629.70 | -366.55 | -1.53% |
| Sensex | 76,391.39 | -361.48 | -0.47% |
Sectoral Pressures Mount
The Nifty Auto index fell 1.23%, emerging as the session's worst performer, while Nifty Realty also declined sharply. The selloff intensified during afternoon trading, with the Sensex tumbling over 700 points from the day's high before staging a partial recovery into the close. The benchmarks had opened slightly higher but failed to sustain gains as weakness in cyclical sectors triggered broad-based selling.
Auto and realty stocks struggled through the session, pulling down heavyweight index components. Market breadth remained negative as profit-booking spread across sectors following recent rallies. The Nifty 50 opened at 23,666.35 and traded in a volatile range before settling near session lows.
GIFT NIFTY Tracks Higher on Global Cues
GIFT NIFTY closed at 23,824.5, gaining 148 points or 0.63% from the previous close of 23,676.5. The offshore derivative opened at 23,687.5 and traded in a range of 213.5 points, touching a high of 23,847.5 and a low of 23,634.0 during the extended session.
| Metric | Level |
|---|---|
| Open | 23,687.5 |
| High | 23,847.5 |
| Low | 23,634.0 |
| LTP | 23,824.5 |
| Change | +148.0 (+0.63%) |
The GIFT NIFTY session saw choppy trading through the overnight and morning hours, dipping to 23,634.0 around midday before staging a sharp rally during the final two hours. The contract surged from 23,765.0 at 14:55 to touch an intraday high of 23,847.5 at 16:30, reflecting stronger global risk appetite and positioning ahead of Session II. The offshore index outperformed the domestic cash market, signaling potential gap-up momentum for the next trading day.
Session II Outlook
GIFT NIFTY heads into Session II at 23,824.5, holding 195 points above the domestic Nifty 50 close. The positive premium suggests traders are pricing in overnight strength from global markets, though domestic headwinds from auto and realty sectors remain a near-term concern.