Stock Market Close: Sensex ends choppy trade 252 pts down, Nifty at 22,623; pharma index drops 1% | Markets News

Stock Market LIVE: Nifty has been consolidating for the past 11 trading sessions, witnessing volatile swings on both sides. On the daily timeframe, the index formed a bearish-bodied candle with upper and lower wicks, indicating indecision and a lack of clear directional conviction amid continued volatility.

 

From a technical perspective, Nifty continues to trade below its 20-day and 50-day EMAs. However, RSI has gradually recovered from lower levels and is hovering near 40, while MACD indicates easing selling momentum. Despite these early signs of stabilisation, a decisive breakout is required to establish the next directional move.

 

Going forward, the 22,500–22,480 zone could act as immediate support. A decisive break below this zone could revive downside momentum towards 22330. On the upside, 22,770–22,800 could act as an immediate hurdle. A sustained move above this zone could extend the pullback rally towards 22,950. Until a decisive breakout emerges, the index is likely to remain range-bound, with the broader structure still cautious.

 

View by: Sudeep Shah, head – technical and derivatives research at SBI Securities

 

Stock Market LIVE: Indian equities witnessed a volatile session as profit booking emerged after recent gains, with investors turning cautious ahead of key US inflation data. Sentiment found some support from easing intraday crude oil prices, rupee appreciation following the RBI’s forex measures, and expectations of a potential review of LTCG tax and STT. However, a hotter-than-expected domestic WPI print pushed bond yields higher, reviving concerns over a tighter monetary policy trajectory and weighing on automobiles, private banks and metals. Meanwhile, encouraging business updates from IT, FMCG and PSU banks reinforced investors’ preference for fundamentally resilient companies with stronger earnings visibility amid a challenging macro backdrop.

 

View by: Vinod Nair, head of research, Geojit Investments Ltd 

 

Stock Market LIVE: The broader market indices settled lower in line with the benchmark. The Nifty Midcap 100 fell 0.08 per cent, while the Nifty Smallcap 100 skidded 0.32 per cent. 

 

Stock Market LIVE: On the sectoral front, the Nifty Pharma index slipped 1.3 per cent to become the top loser. The Nifty IT and Nifty FMCG gained more than 1 per cent each.

 

Stock Market LIVE: From the 30 Sensex firms, Infosys, Tech Mahindra, Tata Consultancy Services, HUL, NTPC and RIL were the major gainers. Bajaj Finance, M&M, Bajaj Finserv, Eternal and ICICI Bank were among the major laggards.

 

Stock Market LIVE: The 50-share Nifty index lost 99.25 points, or 0.44 per cent to settle at 22,622.70. 

 

Stock Market LIVE: Benchmark Sensex index slipped 251.89 points, or 0.34 per cent to end at 72,781.89. 

 

Stock Market LIVE: Here’s a look at the most active put contracts at this hour on the National Stock Exchange (NSE). 

Stock Market LIVE: As of 3:00 PM, the Sensex fell 261.04 points or 0.36 per cent to 72,772.74 and the Nifty50 was down 112.65 points or 0.5 per cent at 22,609.30.