Indian Market Close
The Nifty 50 closed at 23,946.25, down 109.75 points or 0.46%, as broad-based selling pressured select large-cap stocks into the session's final hour. The index traded in a range of 23,851.95 to 24,035.55, opening higher at 24,032.05 before reversing course. The Sensex ended at 77,339, down 241 points or 0.31%.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 23,946.25 | -109.75 | -0.46% |
| Sensex | 77,339 | -241 | -0.31% |
Sectoral Performance
Nifty Bank fell 449.70 points to close at 57,727.35, weighing on the broader market. Nifty Next 50 slid 689.25 points to 71,510.30, underperforming the benchmark. Nifty Financial Services shed 0.83% to settle at 26,598.35, reflecting weakness across financials.
Among the gainers, the agriculture and allied industries sector rose 0.73%, while financial services added 0.69% and electronic manufacturers climbed 0.68%. Hospitality gained 0.67%, providing some cushion to the broader selloff.
Options Activity
Heavy selling hit June 30 expiry contracts, with the 25,000 strike call shedding 1.20 to close at 1.60, down 42.86%. The 24,000 put dropped 53.65 to 64.50, down 45.41%. The 24,500 call lost 7.30 to settle at 9.00, off 44.79%, reflecting a sharp unwinding of bullish positions as the index failed to hold early gains.
GIFT NIFTY Session
GIFT NIFTY closed at 23,867, down 73.5 points or 0.31% from the previous close of 23,940.5. The contract opened at 23,958.5 and touched a session high of 24,029 in early trade before sliding to an intraday low of 23,834.5. The offshore derivative tracked the cash market's weakness through the afternoon, erasing opening gains as domestic equities came under pressure.
The session saw elevated volatility, with the contract swinging nearly 195 points intraday. GIFT NIFTY breached 24,000 briefly during morning trade but failed to sustain above that level, mirroring the Nifty 50's inability to hold its opening highs. A sharp selloff emerged after 5:30 PM SGT, dragging the contract below 23,850 before a modest recovery into the close.
| Metric | Level |
|---|---|
| Open | 23,958.5 |
| High | 24,029.0 |
| Low | 23,834.5 |
| LTP | 23,867.0 |
| Change | -73.5 (-0.31%) |
Session II Outlook
GIFT NIFTY heads into the evening session at 23,867, hovering near the day's lows and signaling a cautious tone for overnight trading.