Indian Markets End Deep in Red
The Nifty 50 closed at 22,360.65, down 259.80 points or 1.15%, while the BSE Sensex settled at 71,742.78, shedding 737.51 points or 1.02%. The benchmark indices extended losses through the afternoon session, with selling pressure intensifying in the final hour of trade.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 22,360.65 | -259.80 | -1.15% |
| BSE Sensex | 71,742.78 | -737.51 | -1.02% |
Broad-Based Weakness Grips Domestic Equities
Banking stocks led the decline with Nifty Bank plunging 1,108.75 points to 54,471.65, while Nifty Financial Services dropped 423.20 points to 24,671.65. The Nifty Next 50 index fell 1,469.15 points to close at 70,309.50, underscoring the breadth of the selloff across market capitalizations.
Nifty Midcap Select shed ground to end at 13,776.35. The session opened on a weak note with Nifty 50 starting at 22,543.70 against the previous close of 22,620.45. Intraday volatility remained contained with a day high of 22,610.60, but sellers dominated throughout.
Sectoral performance showed limited pockets of strength, with pharmaceuticals and biotechnology gaining 10.31% and retail posting a 20.72% advance. However, most sectors traded in negative territory, reflecting the risk-off sentiment that gripped domestic markets.
GIFT NIFTY Tracks Domestic Rout
GIFT NIFTY ended at 22,489.00, down 166.50 points or 0.73% from its previous close of 22,655.50. The contract opened at 22,632.50 and traded in a wide range between a high of 22,662.00 and a low of 22,278.00, mirroring the volatility in the cash market.
| Metric | Level |
|---|---|
| Last Traded Price | 22,489.00 |
| Open | 22,632.50 |
| High | 22,662.00 |
| Low | 22,278.00 |
| Change | -166.50 (-0.73%) |
The derivatives contract witnessed sharp intraday swings with a volatile session post the Indian cash market close. GIFT NIFTY plunged to session lows in the 14:30-16:30 IST window before staging a partial recovery in late afternoon trade, closing well off the day's lows.
Market Outlook
GIFT NIFTY heads into Session II at 22,489.00, down 0.73%, after tracking the domestic market's broad-based decline. The 384-point intraday range reflected heightened volatility as traders adjusted positions following the Indian cash market selloff.