Indian Markets End Lower on Broad-Based Selling
The Nifty 50 closed at 23,997.55, down 180.10 points or 0.74%, while the BSE Sensex shed 583 points or 0.75% to settle at 76,914. The session saw indices trade in a volatile range, with Nifty moving between an intraday high of 24,290.20 and a low of 24,004.75 before succumbing to late-session pressure.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 23,997.55 | -180.10 | -0.74% |
| BSE Sensex | 76,914 | -583 | -0.75% |
Broader markets underperformed the benchmarks. The Nifty Midcap 100 declined 0.73% to 60,220.8, while the Nifty Next 50 fell 1.14% to 70,438.25. The Nifty Midcap 50 closed 115.1 points lower at 16,997.6.
Selective Pockets of Strength
While most sectors traded in the red, financial stocks showed mixed performance. HDFC Bank edged up 0.38% to ₹774.60, while Kotak Mahindra Bank declined 3.00% to ₹371.80. Tata Steel advanced 0.53% to ₹212.48, and Eternal gained 1.71% to ₹251.25. Among laggards, ITC and Infosys remained flat, while Pidilite Industries closed at ₹1,364.10 and Samvardhana Motherson International at ₹120.10.
GIFT NIFTY Tracks Domestic Weakness
GIFT NIFTY ended at 24,038.0, down 172 points or 0.71% from the previous close of 24,210.0. The derivatives contract opened at 24,251.0 and tested an intraday high of 24,363.5 in the pre-noon session before turning sharply lower. The low of 24,002.5 was registered in late afternoon trade, reflecting sustained selling in the cash market.
| GIFT NIFTY | Level |
|---|---|
| Open | 24,251.0 |
| High | 24,363.5 |
| Low | 24,002.5 |
| LTP | 24,038.0 |
| Change | -172.0 (-0.71%) |
The session saw a sharp reversal from mid-day highs, with GIFT NIFTY tumbling from the 24,360 zone to below 24,100 in the final hours of trading. The contract stabilized near 24,180-24,200 in evening trade.
GIFT NIFTY now stands at 24,038 heading into Session II, positioned below the 24,200 mark as overseas positioning adjusts to domestic weakness.