Indian Equity Markets Close Lower Amid Volatile Trading Session
On Monday, Indian equity markets closed lower after a volatile trading session, with selling pressure in information technology and oil and gas stocks weighing on overall sentiment.
The Nifty ended the day at 26,250.30, slipping 78.25 points or 0.3 per cent, while the Sensex settled at 85,439.62, down 322.39 points or 0.38 per cent.
Key Market Trends and Analysis
Analysts point out that the 26,300–26,350 range is a crucial overhead resistance level. A breakout above this range could revive bullish momentum, potentially leading to a rise towards 26,500 in the near term. On the downside, a clear break below 26,200 may trigger a corrective move towards 26,050–26,000.
Earlier in the day, the Nifty touched a record high of 26,373.20 but gains were short-lived as profit booking at higher levels led to a pullback in the latter half of the session.
Heavyweight stocks such as HDFC Bank, Infosys, HCLTech, Bajaj Finance, and TCS were among the top losers on the Sensex. Conversely, shares of Bharat Electronics, Hindustan Unilever, Tata Steel, UltraTech Cement, and Axis Bank provided some support and ended as the top gainers.
Market Sector Performance
The technology and oil and gas sectors experienced the most pressure, with the Nifty IT and Nifty Oil and Gas indices falling around 1 per cent each. In contrast, real estate stocks outperformed the market, with the Nifty Realty index rising over 2 per cent.
FMCG and consumer durable stocks also saw gains, reflecting continued buying interest in defensive and consumption-driven sectors.
Outlook and Focus on Q3 Earnings
Market watchers indicate that Q3 earnings will dominate focus and guide near-term market trends. The sentiment remains moderately positive as investors await further developments.
Overall, the market showed a mixed trend, with the Nifty Midcap index ending marginally lower by 0.16 per cent and the Nifty Smallcap index declining by 0.53 per cent.
It will be essential to monitor market movements closely in the coming days to gauge investor sentiment and potential market direction.
