The Nifty 50 closed 352.15 points lower at 24,194.80, down 1.5% from the previous close, while the Sensex fell 1,258 points or 1.6% in a volatile session that saw the benchmarks retreat sharply from intraday highs. Both indices swung in a 400-point intraday range as selling pressure intensified in the final hours of trade.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 24,194.80 | -352.15 | -1.5% |
| Sensex | ~76,847* | -1,258 | -1.6% |
*Sensex level derived from % change reported in search data
Market breadth turned sharply negative after midday, with the Nifty retreating 210 points from its intraday high of 24,280.90. The index touched a session low of 24,145.80 before closing marginally above that level. Pharma emerged as a standout gainer, with Dr. Reddy's Laboratories climbing to ₹1,232.20 after touching ₹1,239.10, while Axis Bank rallied to ₹1,350.80 from a low of ₹1,315.30.
Hindalco was among the notable laggards, falling from its intraday high as metals came under pressure. Tejas Networks shares dropped 4.5% as the company reported a widening Q4 net loss, while Amir Chand rallied on a 94% jump in quarterly net profit. Firstsource, GMDC, and Sonata Software were among the gainers registering strong price action.
Sector performance remained uneven through the session. While specific FII and DII flow figures for the day were not immediately available, institutional activity appeared subdued amid the broad-based selloff. The Nifty's 1.5% decline marked a significant reversal from recent gains, with volatility picking up sharply in afternoon trade.
GIFT NIFTY Tracks Cash Market Lower
GIFT NIFTY mirrored the cash market's weakness, closing at 24,176.50, down 170 points or 0.7% from the previous close of 24,346.50. The offshore derivative opened at 24,370.00 and touched a session high of 24,392.50 in early trade before sliding to an intraday low of 24,102.50 as selling pressure intensified through the afternoon.
| Metric | Level |
|---|---|
| Last Traded Price | 24,176.50 |
| Open | 24,370.00 |
| High | 24,392.50 |
| Low | 24,102.50 |
| Change | -170.00 (-0.7%) |
The GIFT NIFTY session saw heightened volatility, with the contract swinging in a 290-point range. The derivative tracked the cash market's sharp afternoon selloff, with prices tumbling from the 24,350–24,390 zone in early trade to the 24,100–24,150 range by mid-afternoon before staging a modest recovery into the close.
GIFT NIFTY heads into Session II at 24,176.50, down 0.7% and trading at a modest discount to the Nifty 50 cash close of 24,194.80. The offshore derivative's 290-point intraday range reflects the heightened uncertainty that gripped domestic markets through the day.