Nifty 50 Slips As Reliance And Banking Stocks Weigh On Market

The Nifty 50 index ended Tuesday’s session in the red, falling 71.60 points to close at 26,178.70. Market sentiment was dampened by sharp declines in heavyweight Reliance Industries, which dropped nearly 5 percent, alongside weakness in ITC and HDFC Bank. The selling pressure offset gains in select banking stocks, with Bank Nifty managing a marginal rise.  

Analysts highlighted that while the index has corrected modestly, overall bias remains positive, supported by strong medium-term fundamentals. Technical experts point to the 25,900 zone as a crucial support level, with resistance seen around 26,300. Broader market participation was mixed, reflecting cautious investor sentiment amid global uncertainties and domestic earnings expectations.  

Key Highlights  
Nifty 50 closed at 26,178.70, down 0.36 percent  
Reliance Industries fell nearly 5 percent, dragging the index lower  
ITC and HDFC Bank also ended in the red  
Bank Nifty closed marginally higher near 60,118 points  
Support for Nifty seen at 25,900, resistance around 26,300  
Analysts maintain overall positive bias despite short-term weakness  

Final Takeaway  
The Nifty 50’s decline underscores the impact of heavyweight stock movements on market direction. With Reliance and key banks under pressure, investors remain cautious, though technical support levels suggest resilience in the broader trend.  

Sources: Reuters, Economic Times, PL Technical Desk