The Indian stock market benchmarks, the Sensex and the Nifty 50, ended in the red on profit booking in the fag-end of the session, tracking weak global cues.
The Sensex closed at 80,157.88, down 207 points, or 0.26 per cent, while the Nifty 50 ended the day with a loss of 45 points, or 0.18 per cent, at 24,579.60. The BSE Midcap and Smallcap indices outperformed, rising 0.27 per cent and 0.64 per cent, respectively.
Heavyweights ICICI Bank, HDFC Bank, Mahindra and Mahindra and Kotak Mahindra Bank were the top drags on the Nifty index, while Reliance, NTPC, Power Grid and Hindustan Unilever (HUL) offered the strongest support.
The overall market capitalisation of BSE-listed firms rose to nearly ₹450 lakh crore from nearly ₹449 lakh crore in the previous session, thanks to gains in the mid and small-cap segments.
Indian stock market: 10 key highlights from the day
1. Why did the Indian stock market fall today?
The benchmark index’s fall can be attributed to profit booking after a healthy gain in the previous session, as concerns over Trump’s tariffs persist. Weak global cues and caution ahead of the GST council meeting further contributed to the fall.
“Domestic equities reversed early gains from strong macro data, ending lower on profit booking amid caution ahead of the GST Council meeting and F&O expiry, with banking stocks leading the decline. Investors remain guarded, with a near-term focus on domestic consumption amid global uncertainty,” Vinod Nair, Head of Research, Geojit Investments Limited, said.
2. Top gainers in the Nifty 50 index today
Shares of Tata Consumer (up 2.77 per cent), Nestle India (up 2.22 per cent), and Power Grid Corporation (up 2.20 per cent) were the top gainers in the Nifty 50 index today. As many as 26 stocks ended higher in the Nifty 50 pack.
3. Top losers in the Nifty 50 index
Shares of Dr. Reddy’s Laboratories (down 2.34 per cent), Mahindra & Mahindra (down 2.33 per cent), and ICICI Bank (down 1.42 per cent) ended as the top losers in the index.
4. Sectoral indices today
The banking and financial services indices ended as the top losers.
Nifty Bank fell 0.63 per cent, while the Financial Services index dropped by 0.66 per cent. The Nifty Private Bank index suffered a loss of 0.70 per cent. However, the PSU Bank index rose 0.28 per cent.
On the other hand, Nifty FMCG (up 1.12 per cent), Media (up 0.98 per cent), Metal (up 0.85 per cent), Realty (up 0.72 per cent), and Oil and Gas (up 0.62 per cent) clocked healthy gains.
5. Most active stocks in terms of volume
Ola Electric Mobility (76.35 crore shares), Vodafone Idea (33 crore shares), and Shree Renuka Sugars (17.3 crore shares) were the most active stocks in terms of volume on the NSE.
6. 14 stocks jump over 15% on BSE
Rajshree Sugars & Chemicals, Storage Technologies and Automation, Kaushalya Infrastructure Development Corporation, Ekennis Software Service, and Oxford Industries were among the 14 stocks that jumped more than 15 per cent on the BSE.
7. Advance-decline ratio
Out of 4,285 stocks traded on the BSE, 2,531 advanced, while 1,612 declined. Some 142 stocks remained unchanged.
8. 124 stocks hit 52-week highs
TVS Motor Company, Eicher Motors, Bosch, MRF, and UNO Minda were among the 124 stocks that hit their 52-week highs in intraday trade on the BSE.
9. 64 stocks hit 52-week lows
As many as 64 stocks, including Five-Star Business Finance, Sprayking, and Deepak Nitrite, hit their 52-week lows on the BSE.
10. Nifty 50 technical outlook
According to Shrikant Chouhan, the head of equity research at Kotak Securities, on the lower side, 24,500 would act as a crucial support zone. Below this, the market could retest levels of 24,400-24,350.
On the higher side, the 20-day SMA (simple moving average) or 24,700 and 24,750 could serve as key resistance levels for the bulls. A successful breakout above 24,750 could push the market up to 24,900, said Chouhan.
Rupak De, Senior Technical Analyst at LKP Securities, said the Nifty 50 faced strong rejection at the 21EMA, leading to a sharp intraday fall. The market continues to remain in a sell-on-rise mode until it moves back above 24,850. The daily RSI is in a bearish crossover with a reading below 50.
“In the short term, the trend is likely to remain weak. On the lower end, support is placed at 24,500, while on the higher end, resistances are placed at 24,700 and 24,850,” said De.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
