Stock Market Today: Sensex Falls 300 Points From Day’s High, Nifty Below 24,250; Why Is The Market Down?
Sensex gave up nearly 300 points from its day's high, while Nifty slipped below the 24,250 mark during afternoon trade. Profit booking, higher crude oil prices and technical resistance were among the key factors behind the market's decline.
Stock Market Today: Benchmark equity indices Sensex and Nifty slipped from their day’s highs on Wednesday as investors booked profits, rising global crude oil prices hurt sentiment, and technical resistance limited further gains. While the broader market remained mixed, sectors such as realty and IT came under pressure. How Did The Stock Market Perform Today?The Indian stock market lost momentum after opening higher. At around 2:26 pm, the Sensex was down 57. 09 points at 77,597. 51, while the Nifty slipped 9. 70 points to 24,240. 50. Market breadth remained weak, with 1,344 stocks advancing, 2,463 declining, and 149 remaining unchanged. Why Did Sensex And Nifty Fall Today?Profit Booking Weighed On MarketsYou Might Be Interested InAfter two consecutive sessions of gains, investors chose to book profits, leading to a pullback in benchmark indices. The selling pressure was visible across several sectors, with Nifty Realty emerging as the biggest loser, falling more than 2%. Gains in the Nifty IT index also narrowed as the session progressed. Rising Oil Prices Hurt Market SentimentInvestor sentiment weakened after global crude oil prices climbed sharply following fresh military strikes by the United States on Iran. Brent crude rose nearly 2. 5% to around $92 per barrel, after gaining almost 8% in the previous session, while West Texas Intermediate (WTI) traded above $85 per barrel. The renewed geopolitical tensions have raised concerns about oil supply disruptions and shipping through key trade routes, increasing uncertainty in global markets. Technical Resistance Limited Further GainsMarket analysts said the Nifty needs to move decisively above the 24,300 level to regain strong bullish momentum. Since the index failed to sustain above this resistance level, traders preferred to remain cautious, adding to the selling pressure during the session. Also Read:Stock Market Today: Sensex Surges 800 Points, Nifty Crosses 24,200 Despite Rising Oil Prices; Top Reasons Behind The Rally