MUMBAI, India — Indian equity markets ended lower on Wednesday after a volatile trading session, with selling pressure in information technology and real estate stocks weighing on investor sentiment.
Gains during the session were capped by rising geopolitical tensions and continued uncertainty surrounding a potential U.S.-India trade deal, limiting any sustained recovery.
The benchmark Sensex fell 244.98 points, or 0.29 percent, to close at 83,382.71, while the Nifty declined 66.70 points, or 0.26 percent, to settle at 25,665.60.
“From a derivatives perspective, Nifty options data showed maximum call open interest at the 26,000 and 25,800 strikes, highlighting strong resistance levels,” an analyst said. “On the downside, maximum put open interest at the 25,700 and 25,600 strikes suggests immediate support zones.”
Investor caution was also evident ahead of a trading holiday. Both the National Stock Exchange of India and the Bombay Stock Exchange will remain closed on Thursday, January 15, due to municipal corporation elections in Maharashtra.
On the Sensex, Tata Steel, NTPC, and Axis Bank emerged as the top gainers, supported by buying interest in metal and banking stocks. Asian Paints, TCS, and Maruti Suzuki were among the biggest drags on the index.
A similar pattern played out on the Nifty, where Tata Steel, NTPC, and Axis Bank advanced, while Asian Paints, TCS, and Tata Consumer Products were among the top losers.
Broader markets outperformed the frontline indices. The Nifty SmallCap 100 index rose 0.67 percent, while the Nifty MidCap 100 ended 0.29 percent higher.
Sectorally, IT and realty stocks remained under pressure. The Nifty IT index declined 1.08 percent, while the Nifty Realty index slipped 0.92 percent.
In contrast, metal and public sector bank stocks outperformed. The Nifty Metal index surged 2.70 percent, and the Nifty PSU Bank index climbed 2.13 percent.
Analysts said markets remained cautious amid global uncertainties, though strength in broader indices and select sectors helped limit deeper losses.
Commenting on the technical outlook, market watchers said repeated rejection near the 25,900 level continues to cap the Nifty’s upside, with immediate resistance now seen around 25,800.
“On the downside, a decisive break below 25,600 could open the door for further weakness toward the 25,500–25,450 zone,” they said. (Source: IANS)
