The Nifty 50 closed at 23,897.95, down 275.10 points or 1.14%, marking the third consecutive session of losses as the Indian benchmark index failed to hold above the psychological 24,000 level. The BSE Sensex fell 400 points in a broad-based selloff, weighed down by weakness in banking and financial stocks.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 23,897.95 | -275.10 | -1.14% |
| Sensex | — | -400 pts | — |
Sector Performance and Stock Movers
The session saw limited buying interest across major sectors. Banking stocks led the decline, dragging the broader market lower. The Nifty 50 traded in a wide intraday range between 23,813.65 and 24,206.00, reflecting heightened volatility before settling near session lows.
Among individual stocks, Hindalco emerged as a gainer, rising from ₹1,031.00 to ₹1,054.00. Nestlé India edged higher to ₹1,430.90 from ₹1,420.00, while Shriram Finance climbed to ₹1,030.40 from ₹1,006.95. State Bank of India advanced to ₹1,106.00 from ₹1,091.35.
GIFT NIFTY Tracks Domestic Weakness
GIFT NIFTY closed at 23,994.0, down 126.0 points or 0.52% from the previous close of 24,120.0. The offshore derivative contract opened lower at 24,090.5 and traded in a range of 23,956.0 to 24,177.0, mirroring the cash market's choppy session.
| Metric | Level |
|---|---|
| Open | 24,090.5 |
| High | 24,177.0 |
| Low | 23,956.0 |
| LTP | 23,994.0 |
| Change | -126.0 (-0.52%) |
The contract touched a session high of 24,177.0 during the mid-session rally before sliding sharply in the final hours. GIFT NIFTY saw a volatile reversal, with prices drifting lower as the Indian cash market struggled to sustain early gains and succumbed to selling pressure in banking and financial heavyweights.
Outlook for Session II
GIFT NIFTY heads into the evening session at 23,994.0, down half a percent, as investors assess the sustainability of the recent downturn. The contract remains below the 24,000 mark, mirroring the cash market's failure to reclaim key technical levels.