Sensex, Nifty extend losses for 4th day
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Mumbai, Dec 29: Indian stock markets extended their losing streak for the fourth consecutive session on Monday, dragged down by heavy selling in information technology, realty, pharma and auto stocks.
The benchmark Sensex ended the day at 84,695.54, falling 345.91 points, or 0.41 per cent.
The Nifty also closed lower at 25,942.10, down 100.20 points, or 0.38 per cent, as selling pressure continued across key sectors.
Analysts observed that the Nifty slipped below the psychological 26,000 mark and its 20-day EMA, extending losses by nearly 100 points amid heightened volatility ahead of the monthly F&O expiry.
“The index formed bearish candlestick structures, reflecting near-term selling pressure, although it continues to hover around key short-term moving averages for now,” they added.
Experts noted that a sustained break below the 25,900 zone could expose the index to further downside toward 25,800–25,700.
On the Sensex, stocks such as PowerGrid, Trent, HCL Tech and BEL were among the top losers, weighing on the index.
Select buying interest emerged in Tata Steel, Asian Paints, Hindustan Unilever, Eternal, NTPC and Axis Bank, which ended the session with gains.
The broader market remained under pressure, with the Nifty Midcap 100 index declining 0.52 per cent and the Nifty Smallcap 100 slipping 0.72 per cent.
Sectorally, IT, realty and auto stocks saw the heaviest selling. The Nifty IT index fell 0.75 per cent, while Realty and Auto indices dropped 0.67 per cent and 0.53 per cent respectively.
Defensive sectors showed resilience, with the Nifty Media index rising 0.93 per cent, while PSU Bank and FMCG indices edged up 0.05 per cent and 0.11 per cent.
Market sentiment remained cautious as investors continued to pare positions amid sector-specific selling and lack of strong positive triggers.
“Strong liquidity support from domestic investors, coupled with resilient domestic macro fundamentals, is providing downside protection even as global uncertainties around interest rates and geopolitics continue to restrain aggressive risk-taking,” market watchers stated.
–IANS
