Indian equities lost momentum after a positive start, with Nifty closing lower and broader markets declining sharply. Investor caution ahead of US inflation data, profit booking and geopolitical concerns weighed on sentiment, while FMCG and private banking stocks offered some support.
Indian equities lost momentum after a positive start, with Nifty closing lower and broader markets declining sharply. Investor caution ahead of US inflation data, profit booking and geopolitical concerns weighed on sentiment, while FMCG and private banking stocks offered some support.
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Indian equities remained volatile amid IT sector weakness, global uncertainties and cautious investor sentiment. Analysts see key Nifty support near 23,200-23,000 and resistance around 23,750-23,800. Market participants will monitor technical levels, global cues, sectoral trends and stock-specific developments for direction.
Benchmark indices closed marginally higher on Wednesday, led by gains in banking and auto shares, while IT and FMCG stocks capped advances. Analysts said Nifty remains range-bound with weak sentiment persisting below key resistance levels, despite easing volatility and selective buying interest across sectors.
