Taking Stock | Market falls for second day, metal, realty take a hit

The Indian market closed lower for the second consecutive day on April 12 amid volatility, dragged by IT, metal, realty, oil & gas and capital goods stocks, and ahead of inflation data.

Buying in banking names, however, helped the market to recover from the day’s low. The BSE Sensex closed 388.20 points, or 0.66 percent, lower at 58,576.37, and the Nifty shed 144.70 points, or 0.82 percent, to end at 17,530.30.

"Concerns of a slowdown in consumer spending following a rise in fuel prices ahead of earning seasons hit investors' sentiments today," said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities.

The Nifty, which opened gap down, broke 17600, the crucial support level. Realty and metal indices shed over 2.5 percent, while banking stocks recovered sharply from the day's lowest levels, he said.

"Technically, after a long time, the Nifty has closed below 10-day SMA (simple moving average). We are of the view that the broader market texture is still weak and any fresh uptrend rally is possible only after 17,620 breakouts. Below these levels, we could see further weakness till 17,400-17,350."

If the Nifty succeeds to trade above 17,620, it will move to 17,700 and 17,800. The market texture is volatile, hence level-based trading would be the ideal strategy for the traders, Chouhan added.

Hindalco Industries, Coal India, Grasim Industries, Tata Motors and Tata Steel were among the top Nifty losers. However, Axis Bank, Kotak Mahindra Bank, Power Grid Corporation, SBI Life Insurance and Maruti Suzuki were the top gainers.

On the sectoral front, Nifty IT, metal, and PSU bank indices were down 1-2 percent, while some buying was seen in the Nifty Bank index.

Index	Prices	Change	Change%
Sensex	85,852.32	139.95	+0.16%
Nifty 50	25,966.35	-220.10	-0.84%
Nifty Bank	59,777.20	0.00	+0.00%

Nifty 50 25,966.35 -220.10 (-0.84%)

Mon, Dec 08, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
No Biggest Gainer details available.

Biggest Loser	Prices	Change	Change%
Interglobe Avi	5,367.50	-3.00	-0.06%

Best Sector	Prices	Change	Change%
Nifty PSU Bank	8381.75	0.00	+0.00%

Worst Sector	Prices	Change	Change%
Nifty Infra	9540.65	0.00	+0.00%

On the BSE, except bank, all sectoral indices ended in the red. IT, metal, realty, oil & gas and capital goods indices fell 1-3 percent.

The broader market underperformed the frontliners, with BSE midcap and smallcap indices shedding over a percent each.

A long build-up was seen in Bandhan Bank, PI Industries and PVR, while a short build-up was seen in the Birlasoft, Hindalco Industries and Coal India.

Over 150 stocks, including Adani Green Energy, Adani Transmission and Raymond, touched their 52-week high on the BSE.

Among individual stocks, a volume spike of more than 200 percent was seen in Metropolis Healthcare, PI Industries and Birlasoft.

The Nifty broke from the inside bar pattern formed on the daily chart on April 11. The selling pressure, however, was absorbed near the 20-DMA, which induced the bulls into action.

Consequently, the index managed to hold on to 17,500 on a closing basis. The overall structure suggests that with the recent minor degree dip, the index has reached lower end of the short-term consolidation.

For the Nifty, 17,500-17,400 is a crucial support zone, from where the index can take a leap towards 18,000. Thus, the risk-reward at this level is attractive to initiate fresh long positions from a short-term perspective.

The Nifty has broken trend support of 17,600, with a high probability of sideways to corrective movement in the near term. A breach of 17,420 can further infuse selling pressure in the short term.

Immediate resistance is at 17,600 and if crossed, can invite short covering.

The Bank Nifty trades with resistance of 37,920. Weak longs can be exited since volatility is expected to rise in the near term.

The Nifty slipped as it broke the support of 17,600. On the lower end, it found support around 17,400 before closing about 90 points off the day's low.

The bias, however, remains weak as the Nifty ended below the support of 17,600, which is likely to act as resistance going forward.

On the lower end, 17400 may continue to act as support below which the Nifty may witness a serious correction.

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