Synopsis : Indian equities snapped their three-day winning streak as profit booking dragged benchmarks lower. PSU banks and select midcap stocks outperformed, while private banks and autos weighed on sentiment.
The Indian stock market came under pressure on Thursday, halting its recent rally as traders booked profits at higher levels. By 12 PM, the BSE Sensex was trading at 82,540, down 474 points or 0.57 per cent, while the NSE Nifty50 slipped 123 points or 0.48 per cent to 25,300.
Among the Sensex constituents, Adani Ports, State Bank of India, Asian Paints, NTPC, and Sun Pharma emerged as the top gainers, rising up to 1.24 per cent. In contrast, Titan Company, HDFC Bank, HCL Tech, ICICI Bank, and Infosys dragged the index lower with mild declines of up to 0.35 per cent.
In the broader markets, the Nifty Midcap 100 and Nifty Smallcap 100 indices managed to stay afloat, each adding a marginal 0.03 per cent, reflecting selective buying interest beyond frontline stocks.
Sectoral trends were mixed. The Nifty PSU Bank index led the charge with gains of 1.47 per cent, supported by robust buying in state-run lenders. Nifty Media, Pharma, and Oil & Gas indices also traded in the green with gains of up to 0.50 per cent. However, weakness was evident in Nifty Private Bank and Nifty Auto indices, which slipped by as much as 0.80 per cent.
On the corporate front, Vodafone Idea grabbed attention with its stock surging 6 per cent in intra-day trade, extending optimism among investors following recent developments in the telecom space.
Market experts highlighted that profit booking after a sustained rally was healthy and expected, though near-term volatility may persist amid global cues and sectoral rotations.
Disclaimer : This article is for informational purposes only and does not constitute financial or investment advice. Investors are advised to consult certified professionals before making trading or investment decisions.
Do you want me to also add a technical outlook section (support and resistance levels for Nifty/Sensex) like I did in the previous article?
