Sensex Falls 142 Points, Nifty Ends Lower As Banking Stocks Drag Markets

Sensex and Nifty indices ended lower on Wednesday after volatile trading, as weakness in banking and financial counters, coupled with geopolitical concerns surrounding the United States-Iran situation, kept investor sentiment restrained.

The 30-share Sensex dropped 141.90 points, or 0.19 per cent, to settle at 75,867.80.

The index opened positively but gradually lost momentum during the trading session. The broader Nifty also slipped 6.55 points, or 0.03 per cent, to close at 23,907.15.

Market experts stated that the 23,800 zone continues to remain a crucial near-term support level for the Nifty.

Analysts added that a decisive fall below this mark could pull the index towards the 23,600-23,500 range.

On the higher side, the 24,000–24,100 band continues to act as a major resistance area.

Among the biggest losers on the Nifty were Oil and Natural Gas Corporation, HDFC Bank, and HDFC Life Insurance.

Financial stocks remained under pressure throughout the day. Power Grid Corporation of India, NTPC, and Eternal gained over two per cent among Sensex constituents.

Tata Steel, IndiGo, Maruti Suzuki, Titan Company, and Asian Paints also registered gains.

Midcap and smallcap segments outperformed benchmark indices, with the Nifty MidCap index rising 0.42 per cent and the Nifty SmallCap index advancing 0.15 per cent.

Sectorally, Nifty Financial Services, Nifty Bank, and Nifty Private Bank emerged as the weakest performers.

Nifty Media, Nifty Metal, and Nifty Auto indices ended higher due to selective buying interest.

Investors closely monitored reports regarding US strikes in southern Iran, which heightened geopolitical worries despite ongoing negotiations between Washington and Tehran.

Analysts further noted that persistent foreign institutional investor outflows continued to keep traders cautious.

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