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Indian equity benchmarks have given up morning gains and declined to trade at day's lows during the afternoon session.
Indian equity benchmarks reversed early gains on Friday, with the Nifty 50, Sensex and major sectoral indices trading lower by midday. The sell-off extended across market segments, with mid-cap and small-cap stocks facing sharper declines than the benchmark indices.
The Nifty 50 was down around 1.3% at 22,396, while the Sensex fell 1% to 72,520, according to the latest market data. The Nifty Next 50 dropped 3.24%, while the Nifty Midcap 100 declined 3.1%. The Nifty Smallcap 250 was down 3.61%, and the Nifty Realty index fell nearly 4%.
Banking stocks also came under pressure, with the Nifty Bank down around 1.5%. The Nifty IT index was relatively resilient, declining around 0.25%.
Market breadth remained weak, with 92 stocks declining, three advancing and 89 unchanged on the market dashboard. The Nifty 50, Nifty Bank and Nifty 100 were flagged as trading near their day's lows on the Market Pulse dashboard.
India VIX, the volatility index, rose 6.58% to 16.80, indicating a rise in expected market volatility.
Stock Market LIVE: Support For Nifty 50 Placed At 22300–22320 Zone
The zone of 22300 – 22320 will act as a crucial support for the Nifty 50 index, while the resistance lies in the zone of 22610 – 22630. On the downside, if the index slips below the level of 22300 then the next support is placed in the zone of 22130 – 22150. In an event of a surge above 22630, the index can experience an extension of the rally towards 22780, said Sudeep Shah, Vice President - Technical and Derivatives Research at SBI Securities.
On the options front, meaningful call writing witnessed across 22500 & 22600 strikes. On the put side, 22400 has a substantial open interest, followed by 22300 strike.
Speaking of Sensex levels, support is at 72300 while resistance is at 73200.
Stock Market Live: Tonbo Imaging Jumps 52% As Four Stocks List
Tonbo Imaging India traded 51.86% above its listing price at Rs 1,063, while Sahajanand Medical Technologies gained 7.56% to Rs 370.
Bonfiglioli Transmissions rose 0.45% to Rs 588.65, while Zetwork Manufacturing Business fell 10.18% to Rs 135.63.
Stock Market Live: India VIX Jumps Over 6% To 16.73
India VIX rose 6.17% to 16.73, compared with its previous close of 15.76. The index touched an intraday high of 17.09 and a low of 15.27.
Stock Market Live: Tonbo Imaging Jumps 52% As Four Stocks List
Tonbo Imaging India traded 51.86% above its listing price at Rs 1,063, while Sahajanand Medical Technologies gained 7.56% to Rs 370.
Bonfiglioli Transmissions rose 0.45% to Rs 588.65, while Zetwork Manufacturing Business fell 10.18% to Rs 135.63.
Stock Market Live: Dwarikesh Sugar, Mawana Sugars Lead Sugar Stock Decline
Dwarikesh Sugar Industries fell 6.23%, while Mawana Sugars declined 5%. Bajaj Hindusthan Sugar and Shree Renuka Sugars dropped 4.90% and 4.18%, respectively.
Balrampur Chini Mills fell 2.96%, while Dalmia Bharat Sugar declined 2.42%.
Stock Market Live: HPCL, Indian Oil And BPCL Shares Fall Nearly 3%
Hindustan Petroleum fell 3.04%, while Indian Oil Corporation declined 3%. Bharat Petroleum dropped 2.84%.
Stock Market Live: Swiggy Falls Over 15% As Nifty Midcap 100 Declines
- Swiggy fell 15.42%, while Motilal Oswal Financial Services declined 6.01%. Colgate-Palmolive India and NTPC Green Energy dropped more than 5% each.
- Indraprastha Gas rose 1.22%, while Persistent Systems gained 0.31%.
Stock Market Live: Canara Bank, IDFC First Bank Lead Nifty Bank Decline
- Canara Bank fell 4.18%, while IDFC First Bank declined 3.69%. AU Small Finance Bank dropped 3.24%.
- Bank of Baroda and Punjab National Bank fell 2.44% and 2.42%, respectively.
Stock Market Live: Realty, Metal And Defence Lead Sectoral Decline
Nifty Realty fell 3.50%, while Nifty Metal and Defence declined 3.32% and 3.25%, respectively. Nifty Energy and Media dropped 2.95% and 2.91%.
Nifty IT was the only sectoral gainer, rising 0.02%.
Stock Market Live: Nifty Falls 1.3% As Broader Markets Extend Decline
The Nifty 50 fell around 1.3% to 22,396, while the Sensex declined 1% to 72,520 after reversing early gains.
The Nifty Midcap 100 dropped 3.1% and the Nifty Smallcap 250 fell 3.61%. The Nifty Realty index declined nearly 4%.