Early Trade: Sensex plunges 400+ points, Nifty slips below 23,000; Zomato down 2%
Indian equity markets started Monday lower, with the NSE Nifty 50 down 171 points or 0.74 percent to 22,921.20, while the BSE Sensex opened 490.03 points or 0.64 percent lower at 75,700.43.
In the pre-opening session, the Sensex traded briefly higher at 76,461.65, up 271.19 points or 0.36 percent, but the Nify 50 fell 183.25 points or 0.79 percent to 22,908.95.
The GIFT Nifty showed a weak start to the index, trading 59 points or 0.25 percent lower at 23,072.50 during the first hours.
Market experience and technical vision
“Nifty’s three-week losing streak continues, and Friday’s session closes on a low note. A break above 23,475 is critical for an imminent bullish reversal. Otherwise, the index remains vulnerable around 22,976, with a lower long-term target in the 22,500-22,800 range,” said Akshay Chinchalkar, Head of Research at Axis Securities.
Sector and stock performance
Among Sensex gainers, Tech Mahindra managed a marginal gain of 0.14%, while Tata Motors and NTPC traded flat. However, major laggards include Infosys (-1.34%), Kotak Mahindra Bank (-1.32%), and ICICI Bank (-1.28%). Zomato was down 1.11%, HCL Tech was down 0.70%, and TCS was down 1.10%.
Markets remain under pressure, weighed down by global indices and rising corporate profits.
