Indian Markets End Lower on Broad-Based Selling
The Nifty 50 closed at 23,439.05, down 347.63 points or 0.46%, after a volatile session that saw the index swing between 23,403.05 and 23,494.95. The Sensex shed 74.76 points to settle at 74,689.47, falling 0.10%, as selling pressure intensified in the final hour of trade.
The cash market opened higher at 23,446.60 but failed to sustain early gains, slipping below the psychological 23,400 level during intraday trade before staging a late recovery. Volume stood at 156.6 million shares, reflecting active participation as traders navigated a choppy session marked by sector rotation and weak global cues.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 23,439.05 | -347.63 | -0.46% |
| Sensex | 74,689.47 | -74.76 | -0.10% |
Sector Performance Mixed as Profit-Booking Weighs
Sectoral performance remained divergent, with no clear trend emerging as investors booked profits in select pockets. Banking, retail, auto, and telecom stocks witnessed rotation as traders assessed fundamentals amid year-to-date losses of 2.16% on the Nifty 50. The index remains 10.09% below its one-year peak, well off the January 5 record high of 26,373.20.
Broader market indices underperformed, with most active securities witnessing heightened volatility. The lack of strong sectoral leadership reflected cautious sentiment ahead of key macroeconomic data releases and global risk-off flows.
GIFT NIFTY Tracks Volatile Session, Ends Marginally Higher
GIFT NIFTY closed at 23,460, up 43 points or 0.18% from its previous close of 23,417. The contract opened flat at 23,460 and swung within a 118.5-point range, touching a session high of 23,538.50 and a low of 23,420 as traders navigated the Indian market's intraday swings.
The derivatives contract saw heightened volatility through the day, rallying into the mid-session before retreating sharply in the afternoon. GIFT NIFTY briefly spiked to its session peak near 11:45 SGT before profit-booking dragged it lower, mirroring the cash market's late weakness. The contract stabilized above 23,450 heading into the final hour, ending modestly above its opening level.
| Session | Open | High | Low | LTP | Change |
|---|---|---|---|---|---|
| GIFT NIFTY | 23,460.0 | 23,538.5 | 23,420.0 | 23,460.0 | +43.0 (+0.18%) |
GIFT NIFTY Outlook for Session II
GIFT NIFTY heads into the evening session at 23,460, holding a modest premium to the Nifty 50 cash close of 23,439.05. The 21-point spread suggests a cautious start when Session II commences, with traders likely to watch global cues and overnight flows for directional triggers.