As the markets opened on Wednesday, the BSE Sensex fell around 150 points, while the Nifty50 slipped below the 26,150 mark in early trade. Selling pressure in heavyweight stocks weighed on overall market sentiment.
Market participants stayed on the sidelines due to concerns over global developments and uncertainty around interest rates. After recent gains, many investors chose to book profits, leading to mild losses across key indices. Broader markets also reflected weakness, with mid-cap and small-cap stocks trading mostly in the red.
Sector-wise, performance was mixed. Realty, media, and oil and gas stocks faced selling pressure, while select banking, IT, and consumer stocks showed limited strength. Rate-sensitive stocks underperformed as traders remained cautious about future policy signals.
Among individual stocks, Titan Company emerged as a top gainer, rising sharply on strong buying interest, supported by positive outlook for its jewellery business. On the other hand, Cipla was among the top losers, falling over 2% due to selling pressure. Other heavyweight stocks such as HDFC Bank and Tata Motors also traded lower, dragging the benchmarks.
Market breadth remained weak, with more stocks declining than advancing on both the BSE and NSE. Analysts said the market may continue to move in a narrow range in the near term, with investors closely tracking global cues, upcoming earnings announcements, and macroeconomic data.
Experts added that the 26,000 level on the Nifty remains an important support, while upside could be limited unless there is fresh positive news. Until then, markets are expected to remain volatile, with stock-specific action dominating trade.
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