Indian Markets End Lower After Three-Day Rally
The Nifty 50 closed at 24,213.65, down 0.65% from the previous session, while the Sensex shed over 850 points to end lower on Wednesday. The decline marked a break in the three-day winning streak for Indian benchmark indices as profit-booking emerged across key sectors.
The Nifty 50 opened at 24,202.35 and traded in a range of 24,134.80 to 24,310.20 during the session. Earlier data from April 22 showed the Sensex had slipped 757 points with Nifty closing below 24,400, reflecting sustained selling pressure that continued into today's trade.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 24,213.65 | −157.40 | −0.65% |
| Sensex | — | −850+ points | — |
Sectoral Movers and Stock Performance
Technology stocks came under pressure with HCL Tech leading the losses. The broader SENSEX Index dropped 771 points or 0.97% on Wednesday to close at 78,502 points, with tech heavyweights dragging the benchmark lower.
Among individual stocks, OFSS shares bucked the trend, rising 5% on a 38% jump in net profit following Q4 results. Bharat Coking Coal declined 5% as profit after tax fell 59%. SBI Life and Delta Corp were among the buzzing stocks that ended in the red after corporate updates.
On the gainers front, Dollar Industries surged 17.53%, Rupa & Company advanced 15.71%, and Rudra Gas Enterprise climbed 15.30%. Grasim closed at ₹2,720.50 while Bajaj Finance settled at ₹908.25 after intraday volatility.
GIFT NIFTY Tracks Cash Market Lower
GIFT NIFTY opened Session I at 24,279.50 and declined steadily through the day, touching an intraday low of 24,101.00 before closing at 24,142.50. The 166-point drop (0.68%) mirrored the weakness in the cash market, with the contract trading in a 183.50-point range.
The session saw heightened volatility in the late morning hours with a sharp dip to the day's low around 11:35 IST, followed by a recovery attempt that peaked at 24,284.50 during the Indian market open. However, selling pressure resumed in the afternoon, keeping GIFT NIFTY under pressure through the final hours of trade.
| Metric | Value |
|---|---|
| Open | 24,279.50 |
| High | 24,284.50 |
| Low | 24,101.00 |
| LTP | 24,142.50 |
| Change | −166.00 (−0.68%) |
GIFT NIFTY heads into Session II at 24,142.50, down 166 points from the previous close of 24,308.50, positioning the contract to track overnight global cues and Asian market developments ahead of Thursday's cash market open.