Indian equity benchmark indices ended lower on Wednesday after a volatile trading session, with weakness in information technology stocks weighing heavily on investor sentiment.
Despite the decline, gains in banking and healthcare shares helped the markets recover a significant portion of their intraday losses.
The Nifty closed 77.95 points, or 0.33 per cent lower, at 23,405.60, while the Sensex fell 303.67 points, or 0.41 per cent, to settle at 74,346.17.
Market experts said the 23,500 level remains a key resistance zone for the Nifty.
A sustained move above this level could improve sentiment and support a recovery towards 23,600 and eventually 23,800.
On the downside, analysts identified the 23,300–23,350 range as immediate support, followed by a stronger demand zone around 23,150–23,200.
Among the top performers on the Nifty were Apollo Hospitals Enterprise, Tata Motors, InterGlobe Aviation and Max Healthcare Institute, which attracted buying interest despite broader market weakness.
In contrast, major technology stocks weighed on the benchmarks. Shares of Tata Consultancy Services (TCS), Tech Mahindra and HCLTech emerged among the biggest losers, contributing significantly to the decline in the Sensex.
The Nifty IT index led losses, falling more than five per cent amid selling pressure in technology stocks.
Banking and healthcare shares provided support, with the Nifty PSU Bank index emerging as the top performer.
The rupee weakened for a second straight session due to capital outflows and concerns over fresh US tariff proposals.
Investors will closely watch global developments and currency movements for further market direction.
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