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The Nifty opened 85 points below 26,277.35 after failing to reclaim its 2024 peak. It came within 35 points of the high but cooled off later. Indian IT stocks remain in focus amid the Wall Street sell-off and TCS’ new data-center investments. Asian markets are also reacting to the global decline.
Nifty has strong support at 26,000. Analysts suggest buying during dips. Nifty Bank, currently at record highs, may help the index move higher along with Reliance Industries. Broader markets also saw early signs of reversal on Thursday. Stay tuned for more updates.
Market This Week: Key Highlights
Sensex and Nifty gained for the second straight week. The Midcap Index, however, turned negative. Midcaps recorded sharp losses after Friday’s fall. Nifty, Sensex, and Nifty Bank gained around 1% each, while Midcaps dropped 1%.
Realty and metal stocks were the weakest performers. They fell 3–4%. IT stocks outperformed with a 2% rise in the sectoral index.
Top Nifty gainers included Max Health, Eicher Motors, Bharti Airtel, and Axis Bank. Major losers were Tata Motors PV, Tata Steel, Jio Financial, and Adani Power. Voda Idea, Supreme Industries, Bharat Dynamics, and Tube Investments were among top Midcap losers.
Market Close: Indices Snap 2-Day Rally
Nifty closed below 26,100 with 30 stocks in the red. Hindalco, Tata Steel, Bajaj Finance, and HCL Tech dropped 2–3%. Market breadth remained weak as declines dominated the session.
Except FMCG, all sectoral indices ended lower. Sensex fell 401 points to 85,232. Nifty slipped 124 points to 26,068. The Midcap Index lost 687 points, and Nifty Bank declined 480 points.
Groww closed higher but off intraday highs after mixed quarterly results. Hindalco fell 3% following reports of another fire incident at a Novelis plant. Maruti and M&M gained 1% each in the auto pack.
AWL Agri dropped over 3% after a 6.6% equity block deal. IndusInd Bank rose 2% after denying QIP rumours. Capillary Tech gained 5% despite listing at a mild discount. Sammaan Capital recovered over 2% from lows. IndiGo rose 1% after approving an $820 million investment plan.
Bharti Hexacom, Tube Investments, and Indian Bank were top Midcap losers. GMR Airports gained 1% as reports suggested a major AAI airspace expansion by 2029. The rupee hit a record low of 89.49, marking its sharpest single-day fall in six months.
Closing Note
Indian markets ended lower with Nifty below 26,100. Sensex dropped 0.47% to 85,231.92. Selling pressure was broad-based as 2,711 stocks declined and only 1,113 advanced. Midcap and Smallcap indices fell 1.3% each. FMCG was the only sector that managed to stay positive. Major Nifty movers included Maruti Suzuki, M&M, Interglobe Aviation, and Max Healthcare.
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