The Nifty 50 closed at 24,248.50, down 150.20 points or 0.62%, while the Sensex fell approximately 400 points in Tuesday's session. The decline extended losses from recent sessions, with the benchmark indices trading under pressure through the afternoon.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 24,248.50 | -150.20 | -0.62% |
| Sensex | - | -400 pts | - |
The Nifty 50 opened lower at 24,191 and remained under pressure throughout the day, failing to reclaim the 24,300 mark. Market breadth favoured declines, with 2,255 shares advancing against 1,561 declines on the NSE. The volatility index VIX declined more than 5%, suggesting easing fear despite the losses.
IT stocks provided some support to the indices, rallying in afternoon trade alongside gains in select banking and financial services counters. However, the advance was insufficient to offset weakness across other sectors. The Nifty Bank closed at 57,938.50, down 93.15 points, while Nifty Next 50 shed 149.60 points to 72,268.95. Nifty Financial Services edged up 12.65 points to 26,875.05, and Nifty MidSelect fell 27.40 points to 14,545.90.
GIFT NIFTY Tracks Cash Market Lower
GIFT NIFTY ended Session I at 23,869.5, down 382 points or 1.58% from its previous close of 24,251.5. The offshore derivative opened at 24,274.5 in early Asian trade, hit a session high of 24,302 shortly after the open, and then traded sideways through the European morning hours before encountering sharp selling pressure from mid-afternoon onwards.
| Metric | Value |
|---|---|
| Open | 24,274.5 |
| High | 24,302.0 |
| Low | 23,812.5 |
| LTP | 23,869.5 |
| Change | -382.0 (-1.58%) |
The contract traded in a narrow band between 24,210 and 24,300 for most of the Indian session before a violent selloff emerged around 4:15 PM IST. GIFT NIFTY plunged nearly 350 points in just 30 minutes, crashing from 24,218 to a session low of 23,812.5 as overseas selling intensified. The sharp late-session breakdown extended the losses well beyond the cash market's 0.62% decline, signaling weak sentiment heading into Wednesday's session.
GIFT NIFTY now stands 405 points below the Nifty 50 cash close, indicating a likely gap-down opening for Indian equities when trading resumes at 9:15 AM IST on Wednesday.