Mumbai, Benchmark equity indices ended lower for the third consecutive session on Wednesday as a rebound in crude oil prices dampened investor sentiment amid fading hopes of a breakthrough in talks between the US and Iran.<\/p>\n\n\n\n
The Sensex slipped 48.78 points, or 0.07 per cent, to close at 72,480.29, while the Nifty declined 95.75 points, or 0.42 per cent, to settle at 22,620.45.<\/p>\n\n\n\n
Commenting on Nifty technical outlook, experts said that on the downside, 22,600\u201322,550 remains the immediate support zone, while a sustained break below 22,500 could expose the index to the 22,300 level.<\/p>\n\n\n\n
“On the options front, Call OI stands at around 17.11 crore against Put OI of around 10.96 crore, indicating stronger Call-side positioning. Significant Call OI is visible around the 22,700\u201323,000 strikes, with 23,000 carrying the highest Call OI, keeping overhead resistance elevated,” market watchers stated.<\/p>\n\n\n\n
“The closing setup remains weak, with 22,600\u201322,550 as the key support zone and 22,800 as the immediate resistance,” analysts added.<\/p>\n\n\n\n
Selling pressure was visible in healthcare and pharmaceutical stocks, with Apollo Hospitals Enterprise, Max Healthcare Institute and BSE emerging among the top losers in the Nifty index.<\/p>\n\n\n\n
The broader market, however, showed resilience. The Nifty MidCap 100 index edged up 0.02 per cent, while the Nifty SmallCap index gained 0.27 per cent.<\/p>\n\n\n\n
Among sectoral indices, Nifty Realty, Nifty Private Bank and Nifty Media ended with gains, supported by stock-specific buying.<\/p>\n\n\n\n
On the other hand, Nifty Healthcare, Nifty Pharma, Nifty Consumer Durables and Nifty Metal were the worst-performing sectors of the day.<\/p>\n\n\n\n
Experts said that market participants remained cautious as higher crude oil prices rekindled concerns about inflationary pressures and their potential impact on corporate earnings and economic growth.<\/p>\n\n\n\n
“Market participants are likely to remain selective, favouring fundamentally strong businesses with resilient earnings profiles until there is greater clarity on the macroeconomic outlook,” analysts added.<\/p>\n","protected":false},"excerpt":{"rendered":"
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