Sensex Ends Higher, Nifty Slips As Profit Booking Weighs On Markets

Indian benchmark equity indices delivered a mixed performance on Wednesday as selective buying supported the Sensex, while the Nifty ended lower amid sustained selling in metal, PSU banking and realty counters.

The BSE Sensex advanced 64.42 points, or 0.09 per cent, to settle at 73,983.18. The NSE Nifty, however, declined 27.15 points, or 0.12 per cent, to close at 23,214.95.

Market analysts stated that the 23,250-023,300 range continues to serve as the immediate resistance zone for the Nifty.

The next key hurdle stands at 23,450, the level from which the previous market correction began.

Analysts further noted that 23,100 remains a crucial support level.

A decisive breach below this mark could trigger additional weakness towards 23,000 and subsequently the 22,850-22,900 range.

Investors resorted to profit booking during the latter half of the session.

Selling pressure intensified in metal, PSU banking and real estate stocks, dragging benchmarks away from intraday highs and dampening overall market sentiment.

Among Nifty constituents, Hindalco Industries, Coal India and Oil and Natural Gas Corporation (ONGC) emerged as the principal laggards. Their declines contributed significantly to the market’s subdued close.

Despite the weakness, buying interest in select heavyweight stocks limited broader losses.

On the Sensex, Hindustan Unilever (HUL), Axis Bank and Kotak Mahindra Bank led the gains and helped the index remain in positive territory.

Broader markets underperformed the benchmarks. The Nifty MidCap index dropped 1.49 per cent, while the Nifty SmallCap index fell 1.33 per cent.

Sector-wise, Nifty Media, Nifty PSU Bank and Nifty Realty recorded the steepest declines.

In contrast, Nifty FMCG, Nifty Private Bank and Nifty Chemical indices outperformed.

Analysts said investors rotated funds into defensive sectors and private banking stocks amid cautious market sentiment.

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