Indian Markets Close Lower on Broad-Based Selloff
Indian equity benchmarks ended Tuesday's session under pressure, with the Nifty 50 slipping 217 points, or 0.9%, to close at 23,838. The BSE Sensex declined approximately 550 points as selling intensified through the afternoon session. Market breadth tilted negative as the selloff spread across sectors.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 23,838.35 | -217.45 | -0.90% |
| Sensex | — | -550 (approx) | — |
The session saw Nifty 50 trade within a range of 23,787 to 23,896 before settling near the lower end. Sustained selling pressure emerged as the day progressed, with the index unable to hold opening levels despite brief recovery attempts.
Sectoral Performance
Sector-wise indices mirrored the broader weakness. The Nifty Bank index fell 0.58% while the Nifty 500 declined 0.87%, underperforming the frontline gauge. Select sectoral pockets witnessed sharper cuts as risk appetite waned through the trading day.
GIFT NIFTY Tracks Cash Market Lower
GIFT NIFTY ended Session I at 23,969.50, down 82.50 points or 0.34% from the previous close of 24,052. The offshore derivative opened at 24,026 and marked an intraday high of 24,079 in early trade before succumbing to selling pressure that pushed it to a session low of 23,905.
| Metric | Level | |
|---|---|---|
| Open | 24,026.0 | |
| High | 24,079.0 | |
| Low | 23,905.0 | |
| LTP | 23,969.5 | |
| Change | -82.5 (-0.34%) |
The GIFT NIFTY session reflected a volatile trajectory, with the contract shedding ground steadily from pre-market levels around 24,125. A sharp downdraft materialized between 11:30 and 12:00 hours, dragging the index from 24,000 to a session low of 23,905 before some recovery lifted it back above 23,950. The contract outperformed the cash Nifty's 0.9% decline, closing with a smaller 0.34% loss.
Market Outlook
GIFT NIFTY heads into Session II at 23,969, with the cash-futures spread indicating cautious positioning ahead of Wednesday's domestic open. The 174-point intraday range underscores the volatility that marked Tuesday's trading across both offshore and onshore markets.