Indian equity markets traded lower during intraday trade, with benchmark indices facing selling pressure from IT and metal stocks, while FMCG shares provided some support to the broader market.
Sensex slipped over 350 points
Nifty 50 traded near the 25,300 level
Metal index declined sharply by 4%
IT index fell nearly 1%
Nifty Midcap index gained 0.3%
Nifty Smallcap index slipped 0.3%
The mixed performance across segments reflects selective buying and sector rotation, with investors remaining cautious.
Several stocks witnessed high trading activity during the session, including:
Hind Copper
Nippon Silver ETF
Vedanta
Nippon Gold BeES
Hindustan Zinc
Heightened interest in metal and precious metal-linked stocks kept volumes elevated, despite overall weakness in the metal sector.
Metals: The worst-performing sector, down 4%, dragged by profit booking and global commodity concerns
IT: Slipped 1%, tracking weak global technology cues
FMCG: Emerged as a relative outperformer, offering defensive support to the indices
The divergence between defensive and cyclical sectors highlights a risk-averse market sentiment.
While frontline indices traded in the red, the midcap index managed modest gains, indicating selective stock-specific buying. However, weakness in smallcaps suggests that broader risk appetite remains limited.
The Nifty holding near the 25,300 mark is crucial for maintaining short-term stability. Continued volatility is expected as investors track global cues and sector-specific developments.
📌 Markets remain range-bound with pressure from metals and IT, while FMCG stocks offer stability.
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