Indian equities started the day weak on Wednesday, pressured by divergent international cues and heavy selling in technology stocks. Sensex opened 0.32% lower at 79,019.34, down 253.99 points, and Nifty followed suit, declining 0.43% or 105.75 points to 24,470.85.
Technology weighed heavily, making Nifty IT the top sectoral loser. Red flags also appeared in Services, Private Banks, Healthcare, Pharma, Financial Services, Infrastructure, and PSE indices. Bucking the trend, FMCG, Defence, Media, Metals, PSU Banks, and Realty sectors advanced into positive territory.
Sensex gainers included household names like HUL, NTPC, Trent, Bajaj Finance, Eternal, Kotak Mahindra Bank, UltraTech Cement, Bajaj Finserv, and SBI. Losers dominated with HCL Tech, Tech Mahindra, Infosys, TCS, ICICI Bank, Asian Paints, Power Grid, BEL, Indigo, M&M, Sun Pharma, L&T, Titan, Axis Bank, and Bharti Airtel posting declines.
Mid and smallcaps were uneven: Nifty Midcap 100 fell 0.15% to 59,995, while Nifty Smallcap 100 rose 0.21% to 17,679.
Asia offered no clear direction—gains in Tokyo, Shanghai, Bangkok contrasted losses in Hong Kong and Seoul. Wall Street ended Tuesday in negative territory, influencing the open.
Choice Broking’s Akash Shah highlighted Nifty’s position near 24,550-24,650 resistance, suggesting possible consolidation or profit booking ahead. Key support at 24,300-24,200 could provide a floor.
FIIs offloaded Rs 1,918.99 crore worth of stocks on Tuesday, but DIIs stepped in with Rs 2,221.27 crore in purchases. This institutional tug-of-war underscores the market’s resilience amid external pressures, setting the stage for intraday swings.
