Indian Markets End Lower on Broad-Based Selling
The Nifty 50 closed at 24,203.80, down 83.85 points or 0.35%, extending losses from the previous session. The Sensex ended at 78,009.25, shedding 70.71 points or 0.09%. The session saw the Nifty open at 24,223.85 and slide to an intraday low of 24,296.80 as selling pressure mounted through the day.
Broader indices underperformed the benchmarks, with the Nifty Next 50 down 240.10 points. The financial pack bore the brunt of the decline — Nifty Bank closed at 57,491.10, down 144.15 points, while Nifty Financial Services shed 114.30 points to end at 26,213.65. The Nifty Alpha 50 slipped 434.20 points or 0.77% to close at 56,178.55.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 24,203.80 | -83.85 | -0.35% |
| Sensex | 78,009.25 | -70.71 | -0.09% |
| Nifty Bank | 57,491.10 | -144.15 | — |
| Nifty Next 50 | 74,486.55 | -240.10 | — |
Sectoral Action Mixed
Sectoral performance was mixed with defensive pockets finding some support. Leather stocks surged 8.79%, the top-gaining sector of the day, while Education names added 1.56%. Auto Ancillary rose 1.29%, Textiles gained 1.14%, and Sugar added 0.96%. Defence and Gas Distribution stocks also closed in positive territory, up 0.88% and 0.83% respectively.
The sell-off was concentrated in heavyweight financials and interest-rate sensitive sectors, dragging the headline indices lower despite pockets of strength in mid-cap and cyclical names.
GIFT NIFTY Tracks Cash Market Lower
GIFT NIFTY opened Session I at 24,298.50 and immediately came under pressure, tracking the weakness in the domestic cash market. The contract touched an intraday high of 24,329.0 in early trade before retreating sharply through the session. GIFT NIFTY printed its session low of 24,191.0 and closed at that level, down 106.5 points or 0.44% from the previous close of 24,297.5.
The derivatives contract mirrored the cash market's trajectory with sustained selling through the afternoon, sliding over 130 points from the session high to the low.
| GIFT NIFTY | Open | High | Low | LTP | Change |
|---|---|---|---|---|---|
| Session I | 24,298.5 | 24,329.0 | 24,191.0 | 24,191.0 | -106.5 (-0.44%) |
Derivatives Lead Weakness
GIFT NIFTY is heading into Session II at 24,191, positioned below the cash market close and signaling continued caution ahead of Tuesday's trading.