Indian benchmark equity indices closed lower for the second consecutive day, with losses in IT and public sector banking stocks. The Sensex dropped 238.41 points to 77,470.11, while the Nifty fell 51 points to 24,187.70. Analysts noted that the Nifty’s immediate support lies around 24,150–24,100, with resistance near 24,300–24,400.
The top laggards among Nifty constituents were HDFC Bank, Infosys, and State Bank of India, impacting the frontline indices. Despite this, the broader market performed better, with the Nifty MidCap index up by 0.3% and the Nifty SmallCap index by 0.53%. The Nifty PSU Bank and Nifty IT indices saw significant declines during the session.
On the other hand, the Nifty Chemical and Nifty Cement indices were among the top gainers, showing sector-specific buying strength. Investor sentiment remained cautious due to ongoing geopolitical tensions in West Asia, affecting global risk appetite. Experts highlighted that midcaps were doing well in anticipation of strong corporate earnings.
Market experts mentioned that the broader market is currently trading in a mixed range, with large caps underperforming. This trend is driven by moderating inflows, rising geopolitical risks, and higher crude oil prices.
