Indian Market Close
The Nifty 50 closed at 24,281.75, down 52.80 points or 0.2%, in a lacklustre Tuesday session marked by losses in IT and select heavyweights. The index traded between 24,341.95 and its closing level, failing to sustain early firmness. The BSE Sensex ended nearly flat at 77,682.77, adding just 26.68 points, as investors remained cautious ahead of key macroeconomic data releases.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 24,281.75 | -52.80 | -0.22% |
| BSE Sensex | 77,682.77 | +26.68 | +0.03% |
Sector Performance and Market Drivers
Technology stocks weighed on the benchmark, with the Nifty IT index plunging 431.85 points to 30,339.95, the session's biggest sectoral loser. Banking counters provided support, with Nifty Bank climbing 447.60 points to 57,961.80, helping limit broader market losses. The divergence between financials and technology highlighted sector-specific pressures amid mixed global cues.
Broader sectoral trends showed pockets of strength. The Leather sector led gains with a 6.8% surge, while Water Distribution and Education sectors added 3.0% and 2.6% respectively. Waste Management, Railways, and Rubber Products posted modest gains ranging from 1.0% to 1.8%. The uneven performance across sectors reflected selective stock-specific action rather than a broad directional move.
GIFT NIFTY Session I
GIFT NIFTY closed Session I at 24,398.5, down 121 points or 0.5% from the previous close of 24,519.5. The derivative contract opened firm at 24,512.5 and touched a session high of 24,568 in early trade, but turned weak post-11:30 as selling intensified. The index slid to an intraday low of 24,387.5 in late afternoon trading, mirroring the pressure in the cash market through the domestic session.
The GIFT NIFTY contract tracked a volatile session with sharp swings in the mid-session. After holding above 24,550 in morning trade, the index witnessed a steep decline between 11:45 and 12:50, dropping over 100 points to breach 24,450 levels. A brief recovery attempt around midday failed to sustain, and renewed selling in the final hour dragged the contract below 24,400, ending with a 180-point intraday range.
| Metric | Level |
|---|---|
| Open | 24,512.5 |
| High | 24,568.0 |
| Low | 24,387.5 |
| LTP | 24,398.5 |
| Change | -121.0 (-0.49%) |
Heading Into Session II
GIFT NIFTY heads into the evening session positioned at 24,398.5, below both its opening level and the psychological 24,400 mark. The derivative contract's underperformance relative to the spot Nifty's 0.2% decline suggests cautious positioning ahead of overnight global market developments.