Taking Stock: Nifty sheds early gains to close below 24,500, Sensex down 369 points

Market Today

Benchmark indices ended a volatile session with losses on August 12, with Nifty 50 closing below 24,500 at the day's low on selling pressure in realty, FMCG and financials.

Leading indices gave up early gains to trade rangebound for most part of the session, with a last-hour selling dragging the Nifty 50 to 24,465.65. However, buying in auto, IT, pharma, oil & gas, limited the losses.

At close, the Sensex was down 368.49 points or 0.46 percent at 80,235.59, and the Nifty was down 97.65 points or 0.40 percent at 24,487.40. The broader indices outperformed with BSE Midcap index down 0.2 percent and smallcap index closing flat.

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Maruti Suzuki, Hero MotoCorp, Tech Mahindra, M&M, NTCP were among major gainers on the Nifty, while losers included Bajaj Finance, HUL, Trent, HDFC Bank, Nestle.

Mixed trend was seen on the sectoral front with auto, pharma, metal, oil & gas, IT, media indices rising 0.3-0.7 percent while realty, FMCG, banks and consumer durables down 0.5 percent each.

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In stock-specific action, Astral's shares tumbled 8% on profit fall, Tilaknagar Industries shares jumped as profit more than doubled, Bata India shares slipped 4.5%, Hyundai Motor shares rallied nearly 3% after Goldman Sachs initiated coverage with a Buy rating, and Yatra Online rallied for a second day to rise 20% following strong results.

Index	Prices	Change	Change%
Sensex	71,947.55	-1,635.67	-2.22%
Nifty 50	22,331.40	-488.20	-2.14%
Nifty Bank	50,275.35	-1,999.25	-3.82%

Nifty 50 22,331.40 -488.20 (-2.14%)

Mon, Mar 30, 2026

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Hindalco	884.45	17.75	+2.05%

Biggest Loser	Prices	Change	Change%
Bajaj Finance	801.55	-42.25	-5.01%

Best Sector	Prices	Change	Change%
Nifty Metal	11138.40	-23.25	-0.21%

Worst Sector	Prices	Change	Change%
Nifty PSU Bank	7873.45	-376.00	-4.56%

Shares of Inox Green shares rose 1% on signing agreement for 182 MW of wind projects, Praj Industries shares down 7% after Q1 profit fell 93%, Medi Assist shares gained 4.7% on block deal, Man Industries shares plunged 10% despite Q1 profit jumped 45%, SJVN share price added 5% despite Q1 profit down 36%, Stallion India share price jumped 7% on signing MoU with govt of Rajasthan for new R-32 manufacturing plant.

Nearly 120 stocks touched their 52-week highs on the BSE, including Star Cement, Healthcare Global Enterprises, LE Travenues Technology, CarTrade Tech, Fortis Healthcare, Jayaswal Neco Industries, Nuvoco Vistas, KRBL, Paytm, Hitachi Energy, among others. Click to View More

Outlook for August 13

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

The selling pressure has emerged from the highs on Tuesday, after a stellar upmove of Monday and Nifty closed the day lower by 97 points. After opening with a positive note the market surged higher in the early-mid part of the session. However, sharp weakness got triggered from the day's high of 24700 and the market remained weak in the mid to later part of the session.

A small red candle was formed on the daily chart with long upper shadow. Technically, this market action indicates a lack of strong upside momentum to surpass the overhead hurdle. The bulls may hold the ground as long as the base of 24300 is protected.

The short term uptrend that resumed after a sharp upmove of Monday remains intact and we expect buying to emerge from near the supports of 24300-24400 levels in the coming sessions. Hence, one may expect Nifty to retest the crucial hurdle of around 24700 in the short term.

Ajit Mishra – SVP, Research, Religare Broking

Markets failed to build on Monday’s gains and ended nearly half a percent lower amid volatility. The session started on a positive note, but noticeable pressure in heavyweights, particularly banking and financial stocks, not only erased the early gains but also dragged the index into negative territory. Eventually, the Nifty settled near the day’s low at 24,487.40 levels.

On the sectoral front, the trend was mixed—pharma, auto, and IT ended higher, while banking and financials emerged as the top losers. The broader indices also traded mixed, with market breadth closing flat.

This decline reflects a lack of conviction among participants amid mixed cues, and the bias is likely to turn positive only if the Nifty decisively sustains above 24,600, its 100 DEMA. Meanwhile, select stocks across sectors are showing notable strength on the back of strong earnings and upbeat prospects. Participants should focus on these outperformers and avoid laggards while anticipating a rebound.

Rupak De, Senior Technical Analyst at LKP Securities

Nifty faced selling pressure as uncertainties surrounding tariffs and geopolitical issues continued to weigh on Indian equities. The index slipped from the day’s high of 24,700, closing more than 200 points lower.

In the short term, the index is likely to remain volatile with no clear directional bias.

On the downside, immediate support is placed at 24,450; a break below this level could drag it towards 24,337 or lower. On the upside, immediate resistance is seen at 24,660–24,700, and a sustained move above this zone could push it towards 24,850 or even 25,000.

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