Indian equity markets opened lower on Thursday, giving up early gains as broad-based profit booking dragged most sectoral indices into the red.
The Sensex declined over 150 points, while the Nifty slipped below the 25,800 mark, reflecting cautious investor sentiment after a recent three-day rally.
In the previous session, benchmark indices ended on a positive note:
Nifty 50: Closed at 25,819.35 (+0.37%)
Sensex: Settled at 83,734.25 (+0.34%)
India VIX: Fell 3.55% to 12.22, indicating easing volatility
Gains in consumer, financial, and metal stocks supported the rally, though persistent weakness in IT shares capped the upside.
Despite a mildly positive global backdrop, markets struggled to sustain momentum.
Tech Mahindra: Up nearly 2%, bucking the IT weakness trend
IndiGo: Down around 2%
Broader sectoral indices turned negative due to profit booking
The shift indicates that investors are locking in gains after the recent uptrend.
Global markets remained largely steady:
Nikkei 225 futures: +0.6%
Japan’s Topix: +1%
Australia’s ASX 200: +1.1%
Euro Stoxx 50 futures: Flat
While global sentiment appears stable, domestic traders remain cautious.
After three consecutive sessions of gains, some consolidation was expected. The drop in volatility (India VIX) suggests markets are not in panic mode, but selective profit booking is underway.
Key levels to watch:
Nifty Support: 25,700
The near-term trend remains constructive, but further upside may depend on sustained buying in financial and consumer sectors while IT stabilizes.
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⚠ Disclaimer: This article is for informational purposes only and not investment advice.
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