Taking Stock: Sensex down 495 pts, Nifty closes below 24,750, dragged by auto, realty, bank stocks

Market Today

Market extended the losses on the third consecutive session on October 17, with benchmark Nifty 50 closing a little below 24,750 amid selling across sectors barring Information Technology.

At close, the Sensex was down 494.75 points or 0.61 percent at 81,006.61, and the Nifty was down 221.50 points or 0.89 percent at 24,749.80.

Amid positive global cues, the Indian indices opened higher with Nifty above 25,000 but erased the gains in the initial hours to turned into red and extended the losses as the day progress, dragging Nifty below 24,750, intraday.

Biggest Nifty losers were Bajaj Auto, Shriram Finance, Hero MotoCorp, Nestle and M&M, while gainers were Tech Mahindra, Infosys, L&T, Power Grid Corp and SBI.

Among sectors, except Information Technology index (up 1 percent), all other sectoral indices ended in the red with auto, media and realty down 2-3 percent.

The BSE midcap and smallcap indices shed more than 1 percent each.

More than 240 stocks touched their 52-high on the BSE, including, Strides Pharma, Tech Mahindra, Gujarat Fluoro, CAMS, IFB Industries, Indigo Paints, Firstsource Solutions, CarTrade Tech, ICRA, Dhani Services, Oberoi Realty, among others. Click To View More

Outlook for October 18

Index	Prices	Change	Change%
Sensex	83,952.19	484.53	+0.58%
Nifty 50	25,709.85	124.55	+0.49%
Nifty Bank	57,713.35	290.80	+0.51%

Nifty 50 25,709.85 124.55 (0.49%)

Fri, Oct 17, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Asian Paints	2,507.80	98.10	+4.07%

Biggest Loser	Prices	Change	Change%
Wipro	240.90	-12.91	-5.09%

Best Sector	Prices	Change	Change%
Nifty FMCG	56616.40	762.50	+1.37%

Worst Sector	Prices	Change	Change%
Nifty IT	34950.70	-580.40	-1.63%

Shrikant Chouhan, Head of Equity Research, Kotak Securities:

Today, the benchmark indices witnessed a sharp selloff, the Nifty ends 220 points lower while the Sensex was down by 500 points. Among sectors all the major sectoral indices registered profit booking at higher levels but realty and auto lost the most fell over 3.5 percent. Technically after a muted opening Nifty breached important level of 24900/81500 and post breakdown the selling pressure intensified.

On daily chart the index has formed bearish candle and on intraday charts it is holding a lower top formation. We are of the view that the market texture is weak and as long as Nifty trades below 24900/81500 weak sentiment is likely to continue. On the downside the market could slip till 24550-24500/80900-80600. On the flip side, above 24825/81300 we could see a one quick pullback rally till 24850-24900/81400-81500.

Rupak De, Senior Technical Analyst, LKP Securities

The Nifty has found initial support in the 24,700–24,750 zone. On the daily chart, the Nifty has broken down from a bearish flag pattern, suggesting a possible downward move in the short term.

The RSI is showing a bearish crossover and is declining. However, this may not be the ideal level to initiate short positions, as the index has experienced a steep correction and is near a double-bottom support, which could trigger a near-term recovery toward 25,000. Conversely, a decisive fall below 24,700 could lead to a significant correction in the market.

Aditya Gaggar Director of Progressive Shares

Finally, the Index broke its range of 24,920-25,200. After a muted opening, Auto stocks led correction dragged the Index lower and in the second half of the trading session, another round of selling pulled the Index further lower to end the session at 24,749.85 with a loss of 221.45 points. Barring IT, all the other sectors ended the session in red with Realty and Auto being the major laggards. Broader markets underperformed the Frontline Index as Mid and Smallcaps tanked by 1.66% & 1.24% respectively.

A bearish marubozu open candle on the daily chart depicts a strong domination of bears but the Index stands at a strong support level of 24,750 (tested on 9th September and 7th October).

A break below the mentioned level will drag the Index towards 24,430; and in the case of a reversal, 24,950 will be considered as immediate resistance.

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