Taking Stock: Market snaps two-day winning run, financials slip

A poor show by select bank, financial and pharma heavyweights, such as ICICI Bank, HDFC twins, Kotak Mahindra Bank and Sun Pharma kept flagship indices the Sensex and the Nifty subdued on August 11.

The market snapped its two-day winning run and ended flat as investors booked profit in recent outperformers in light of weak global cues.

The Sensex and the Nifty witnessed heavy across-the-board selling in the intraday trade but they pared losses to end flat, thanks to gains in shares of Reliance Industries, Tata Steel, NTPC and Power Grid Corporation.

The 30-share pack Sensex closed 29 points, or 0.05 percent, lower at 54,525.93 while the Nifty settled 2 points up at 16,282.25.

Mid and smallcaps continued underperforming the frontline stocks as the BSE Midcap and smallcap indices closed with losses of 0.22 percent and 0.83 percent, respectively.

The mid and smallcap counters witnessed heightened selling pressure after a BSE circular on the add-on price band framework for certain stocks.

BSE, however, later clarified that the measure was limited to securities in groups X, XT, Z, ZP, ZY and Y only. Besides, these securities should have a price of Rs 10 and more and the stock's market capitalisation should be less than Rs 1,000 crore.

"Measures taken by the BSE to curb excessive price movement in smaller stocks nudged selling pressure in small and midcap stocks while a clarity from BSE on limiting its restrictions to penny stocks gave some relief," Vinod Nair, Head of Research at Geojit Financial Services observed.

Index	Prices	Change	Change%
Sensex	85,267.66	449.53	+0.53%
Nifty 50	26,046.95	148.40	+0.57%
Nifty Bank	59,389.95	180.10	+0.30%

Nifty 50 26,046.95 148.40 (0.57%)

Fri, Dec 12, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Hindalco	852.10	27.75	+3.37%

Biggest Loser	Prices	Change	Change%
HUL	2,260.60	-45.00	-1.95%

Best Sector	Prices	Change	Change%
Nifty Metal	10536.45	269.55	+2.63%

Worst Sector	Prices	Change	Change%
Nifty FMCG	54490.80	-128.85	-0.24%

Ajit Mishra, VP - Research, Religare Broking is of the view that may see further consolidation in the market on August 12 and volatility may remain high due to the scheduled weekly expiry.

"The recent correction in the mid and smallcaps have turned the participants cautious. We reiterate our view to prefer index majors and quality midcap for short-term bets until the broader market stabilises and suggest maintaining few short positions also," said Mishra.

"Investors should not worry about the recent correction and use this phase to accumulate quality stocks on dips," he said.

More than 500 stocks, including Nahar Polyfilms, Energy Development Company, Shree Rama Multi-Tech, Hilton Metal Forging and R&B Denims, hit their lower circuits on BSE.

On the other hand, more than 200 stocks, including Nelco, Kitex and Dhampur Sugar Mills, hit their upper circuits.

Nearly 200 stocks hit their 52-week highs on BSE. Among them, Bharti Airtel, HCL Tech, Infosys, Vedanta, Nelco, Siemens, Cummins India, BASF India and Alkem Laboratories were the major ones.

BSE Metal index saw a sharp gain of 3.51 percent, followed by power, oil & gas, energy and basic materials indices which rose more than a percent each. Pharma, bank and finance indices declined up to a percent.

Experts pointed out that Nifty registered yet another indecisive formation today which resembles a hanging man pattern.

The near-term trend shall continue to remain directionless as Nifty50 appears to be in a new trading range of 16,350 to 16,160. Hence, for a sustainable move on either side, a fresh breakout is required, said Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in.

"In the last five trading sessions, the advance-decline ratio decisively favoured bears which can also be hinting towards a distribution phase of markets which will be typically followed by a breakdown. Hence, traders are advised to remain cautious and look prudent to prune down their long side positions," said Mohammad.

As per Chandan Taparia, Vice President and Derivatives Analyst, Motilal Oswal Financial Services, Nifty has to hold above 16,250 to witness an up-move towards 16,400 then 16,500, while on the downside, support is intact at 16,200 and 16,150 levels.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.