Trading
Markets erase early gains; Sensex falls over 200 pts, Nifty slips below 24,150
Mumbai/IBNS: The Indian stock market relinquished its early gains and turned sharply lower in afternoon trade on Thursday, according to media reports.
The BSE Sensex dropped over 200 points, while the NSE Nifty 50 slipped below the 24,150 mark.
Broad-based selling
Selling pressure was seen across sectors, with banking, financials, realty and midcap stocks witnessing notable declines.
Limited support from select sectors
IT and metal stocks provided some support, though gains remained limited amid the broader market weakness.
Sensex, Nifty open strong
The BSE Sensex surged over 500 points, while the NSE Nifty 50 opened near the 24,390 mark, reflecting strong investor sentiment in early trade amid oil price dip and hope for the US-Iran ceasefire.
Oil prices dip below $95
Crude oil prices slipping below $95 per barrel added to the positive momentum, alongside multiple supportive global and domestic cues.
Metals, IT, financials lead rally
Sectorally, metals, financial services and IT stocks led the gains, with most indices trading in the green.
However, FMCG, realty and midcap-heavy segments lagged in early trade.
Expert view on key levels
Market expert Anil Singhvi told Zee Business that the Nifty 50 is likely to find support between 24,025 and 24,150, with a strong buy zone at 23,850–24,000.
For Nifty Bank, he pegged support at 55,900–56,100, with a strong buy zone in the 55,600–55,775 range.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
