Taking Stock: Nifty snaps two-day gains to end near 25,100; Sensex down as IT, banks drag

Market Today

Benchmark indices snapped a two-day gaining streak, erasing most of the previous two-session gains on selling in the IT and banking names, tracking weakness in June quarter earnings.

Markets were under pressure in the opening hours, however, despite a mid-session recovery, the extended selling in the last hour of trade dragged the Nifty index closer to 25,100. On Friday, July 18, markets will react to the results of Axis Bank and Wipro.

At close, the Sensex was down 375.24 points or 0.45 percent at 82,259.24, and the Nifty was down 100.60 points or 0.40 percent at 25,111.45. The broader indices outperformed the main indices with midcap index finishing on flat note, while smallcap index added 0.25 percent.

Also Read: Axis Bank Q1 Preview: NII, profit to grow in low single-digits as loan growth slows, margins shrink

The biggest Nifty losers were Tech Mahindra, IndusInd Bank, Infosys, SBI Life Insurance, Wipro, while gainers included Tata Consumer, Tata Steel, Hindalco Industries, Trent, M&M.

On the sectoral front, IT, PSU Bank shed 0.5-1 percent, while metal, consumer durables, realty indices added 0.5-1 percent.

Read More: Prashant Jain’s 3P Fund hikes stakes in financials, energy; pares IT on growth and valuation worries

In stock-specific action, Arvind Fashions shares gained 7 percent on appointment of Amisha Jain as new MD & CEO, Le Travenues Technology (Ixigo) shares zoomed 20 percent after Q1 consolidated profit jumped 27%, PNC Infratech shares gained more than 2 percent on winning solar project from NHPC, Sona BLW shares jumped 6 percent on report of advanced talks to supply electric vehicle components to China’s BYD, Heritage Foods shares fell 3 percent after Q1 profit declined 30% on year, and Navkar Corporation shares jumped 13 percent on turning profitable in Q1FY26.

Index	Prices	Change	Change%
Sensex	84,391.27	-275.01	-0.32%
Nifty 50	25,758.00	-81.65	-0.32%
Nifty Bank	58,960.40	-261.95	-0.44%

Nifty 50 25,758.00 -81.65 (-0.32%)

Wed, Dec 10, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Eicher Motors	7,228.50	105.50	+1.48%

Biggest Loser	Prices	Change	Change%
Interglobe Avi	4,805.50	-162.00	-3.26%

Best Sector	Prices	Change	Change%
Nifty Metal	10159.00	46.35	+0.46%

Worst Sector	Prices	Change	Change%
Nifty Midcap 100	59007.80	-668.40	-1.12%

More than 140 stocks on the BSE touched their 52-week highs, including Nippon Life India Asset Management, Schneider Infra, JK Lakshmi Cement, Asahi India, Global Health, HDFC AMC, MRF, RBL Bank, Ramco Cements, Nuvoco Vistas, Anand Rathi, among others. Click to View More

Smartworks Coworking Spaces shares ended with 9 percent gain after making debut with nearly 7 percent premium over the IPO price.

The Rs 583-crore initial public offer garnered 13.45 times subscription in the primary market between July 10-14 at a price band of Rs 387-407 per share.

Today, the benchmark indices witnessed profit booking at higher levels. The Nifty ends 101 points lower, while the Sensex was down by 375 points. Among sectors, the Reality index was the top gainer, rallied 1.23 percent, whereas the IT index lost the most, shed 1.50 percent. Technically, after a muted open, the market has been consistently facing selling pressure at higher levels. The Nifty/Sensex has formed a bearish candle on daily charts and a lower top formation on intraday charts, which is largely negative.

We are of the view that, as long as the market is trading below 25,200/82,500, the weak sentiment is likely to continue. On the downside, the 50-day SMA (Simple Moving Average) at 25,000/82,000 would be the immediate support level. Below 25,000/82,000, the chances of hitting 24,900-24,850/81,600-81,500 would increase.

On the upside, a break above 25,200/82,500 could lead the market to retest the levels of 25,280/82,800. A successful breakout above 25,280/82,800 could push the market up to 25,350-25,425/83,000-83,300.

Nifty remained mostly under selling pressure throughout the day as the index failed to move beyond the crucial resistance level of 25,260, leading to long unwinding.

On the hourly chart, a consolidation breakout is visible, indicating weakening bullish momentum. The current sentiment appears bearish and may drag Nifty towards the 24,920–24,900 zone in the short term. On the higher side, 25,260 is likely to remain a strong resistance.

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