Nifty 50 ends winning streak, Sensex dips 100 points amid cautious sentiment
After an impressive 8-day rally, the Indian equity market paused for breath on Monday, with benchmark indices showing signs of fatigue. The Nifty 50 closed at 25,069.20, down 44.80 points (-0.18%), while the Sensex slipped 118.96 points (-0.15%) to settle at 81,785.74. The broader market remained resilient, with mid- and small-cap indices outperforming.
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10 Key Highlights from Today’s Trade
- Nifty 50 Snaps 8-Day Rally The index formed a minor bearish candle, indicating profit booking near resistance zones of 25,100–25,300.
- Sensex Weakens on IT Drag Heavyweights like Infosys, Wipro, and Asian Paints led the decline, pulling the index lower.
- Realty Sector Outperforms Nifty Realty surged 2.4%, driven by policy buzz around easing building-height norms in Noida.
- Bank Nifty Holds Firm Closed at 54,887.85, up 0.14%, supported by strength in PSU banks like Bank of Baroda.
- IT & Pharma Under Pressure Nifty IT fell 0.58%, while pharma stocks like Sun Pharma and Dr. Reddy’s saw profit booking.
- Mid- & Small-Caps Shine BSE SmallCap rose 0.66%, MidCap up 0.44%, reflecting strong retail participation.
- Volatility Picks Up India VIX rose around 2%, signaling increased hedging ahead of the US Fed policy decision.
- FII/DII Flows Mixed FIIs net bought ₹130 crore, while DIIs added ₹1,550 crore—indicating domestic confidence.
- Currency Stable Rupee closed at ₹88.21/USD, slightly firmer than the previous session.
- IPO Buzz Continues Over a dozen companies eye ₹10,000 crore in upcoming IPOs, buoyed by policy support and liquidity.
Technical Outlook
- Nifty Range: Immediate support at 24,900; resistance at 25,300–25,400
- Sensex Levels: Support at 81,000; breakout possible above 82,400
- Options Data: Suggests a broader range of 24,600–25,500 for Nifty
Strategic Takeaway
With global cues turning cautious and central bank decisions looming, traders should tighten stop-losses and consider partial profit booking. Sectors like realty and PSU banks remain strong, while IT and pharma may see further consolidation.
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