Indian benchmark indices ended lower as Nifty 50 closed at 24,080.40, down 95.25 points or 0.39%, while Sensex shed 100 points in choppy trade. The session saw sporadic recoveries fail to sustain as selling pressure intensified in the final hour.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 24,080.40 | -95.25 | -0.39% |
| Sensex | 77,175.01 | ~-100 pts | ~-0.13% |
Sectoral Divergence Marks Session
Leather emerged as the standout gainer, surging 5.86%, followed by Telecom which advanced 1.81%. Maritime Industries and Oil sectors posted modest gains of 1.33% and 1.32% respectively, while Furniture added 1.24%.
Media & Entertainment edged up 0.69%, but the broader market remained under pressure. Metals & Mining showed weakness alongside banking and IT stocks, which dragged the headline indices lower through the session.
Midday trade saw Nifty dip below 24,100 before a brief afternoon recovery attempt. The Sensex clawed back 450 points from intraday lows but failed to hold gains, eventually settling 100 points down. Volatility in the derivatives segment reflected trader caution ahead of monthly expiry.
GIFT NIFTY Mirrors Cash Market Weakness
GIFT NIFTY opened at 24,199.00 and touched an intraday high of 24,270.00 in early trade before succumbing to sustained selling pressure. The contract slid to a session low of 24,026.50, eventually closing at 24,050.50, down 134 points or 0.55%.
| Metric | Level |
|---|---|
| Open | 24,199.00 |
| High | 24,270.00 |
| Low | 24,026.50 |
| LTP | 24,050.50 |
| Change | -134.00 (-0.55%) |
The offshore contract tracked domestic weakness through the afternoon, with sharp selling post-15:30 IST pushing GIFT NIFTY through key support levels. Options data showed heavy put writing at the 24,000 strike (25.90) and 24,050 strike (41.00), signaling trader hedging into the close.
Session II Outlook
GIFT NIFTY heads into the evening session at 24,050.50, holding above the psychological 24,000 mark but trading below its 200-point intraday range. Overnight global cues and FII activity will determine whether the contract can reclaim 24,100 or tests support at 24,000 ahead of Tuesday's domestic cash market open.