Image Source: The Economic Times
India's benchmark Nifty 50 index (.NSEI) traded lower by 0.49% in mid-morning session on Tuesday, reflecting cautious sentiment among investors. The decline comes against a backdrop of profit-taking in rate-sensitive sectors and mixed global cues, with the index hovering around key support levels amid steady market volumes.
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The Nifty 50 index opened marginally higher but surrendered gains to close down 0.49% in early trade, underscoring short-term volatility in Indian equities. Broad-based selling in financials, IT, and select FMCG stocks weighed on the benchmark, even as defensive plays provided some cushion.
Key Highlights:
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Index Performance: Nifty 50 last at approximately 25,903, down 123 points or 0.49% from previous close.
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Sector Pressures: Banking and financial services led losses, with IT dragging amid global tech caution.
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Technical View: Index tests 50-day moving average support near 25,745, with intraday range between 25,879-25,981.
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Market Breadth: Around 35 Nifty stocks in red versus 15 in green, signaling broad participation in the dip.
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Broader Context: Move aligns with global caution ahead of key economic data releases and year-end positioning.
Sources: NSE Data, Perplexity Finance, Market Reports
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