The Indian equity market opened in a subdued mood and stayed under pressure for most of the session. The Nifty fell to an intraday low of 24,429.25 before recovering slightly, while the Sensex slipped 0.49% to 78,154.25. Both major indices closed near their daily lows.
At market close, the Nifty ended down 112.10 points, a 0.46% decline, trading at 24,471.70. The Sensex dropped 388.19 points, a 0.49% fall, to 78,154.25. Mid‑cap stocks were flat and small‑cap stocks rose 0.2%, showing a mixed performance across the board.
Sector‑wise, the Nifty Pharma index gained 1% and the IT index added 0.6%. In contrast, Realty, FMCG and Metal each fell 1%, while Infrastructure, Private Banking, Auto and Bank indices saw small declines of 0.8%, 0.6%, 0.5% and 0.4% respectively.
Top losers in the Nifty included Tata Consumer, Max Healthcare, UltraTech Cement, Apollo Hospitals and Nestle. Gainers were Dr Reddy’s Labs, Eternal, TCS, Titan Company and Infosys. More than 180 stocks hit their 52‑week highs, with names like Gland Pharma, Bosch, Aditya Infotech and Paytm topping the list.
The Indian rupee finished at ₹95.44 per dollar, the lowest level of the day, down 14 paise from the previous close of ₹95.29.
Analysts noted that the market’s weakness may push the Nifty toward the 24,300 support level before a potential rebound. A higher‑bottom pattern remains intact, but confirmation is needed to signal a reversal.
On the technical front, the Nifty has slipped below key short‑term moving averages, indicating a short‑term trend reversal. Support lies near 24,400 and resistance around 24,600–24,650. Sustaining above 24,400 could keep sentiment positive, while a break below may trigger further declines.
Overall, the market is likely to stay range‑bound in the near term, with investors watching for any clear breakout signals before making larger moves.