Sensex slips 49 points, Nifty falls 96 points as Indian stock markets end lower

Equity benchmarks concluded lower for the third straight session on Wednesday, as rising crude oil prices dampened investor sentiment amid uncertain prospects of progress in US-Iran negotiations.

The Sensex dropped by 48.78 points, or 0.07 per cent, closing at 72,480.29, while the Nifty fell 95.75 points, or 0.42 per cent, settling at 22,620.45.

Market experts analyzing Nifty’s technical perspective highlighted that on the downside, the 22,600–22,550 range remains the immediate support corridor, while a sustained break beneath 22,500 could push the index toward the 22,300 level.

“On the options front, Call OI stands at approximately 17.11 crore compared to Put OI of around 10.96 crore, reflecting heightened Call-side positioning. Notable Call OI accumulation is observed around the 22,700–23,000 strike prices, with the 23,000 strike commanding the highest Call OI, maintaining overhead resistance at elevated levels,” market observers noted.

“The closing pattern retains weakness, with 22,600–22,550 as the critical support band and 22,800 as the immediate resistance zone,” analysts elaborated.

Pressure mounted in healthcare and pharmaceutical sectors, with Apollo Hospitals Enterprise, Max Healthcare Institute, and BSE emerging as key laggards in the Nifty basket.

The broader market showcased resilience. Nifty MidCap 100 index edged up 0.02 per cent, while Nifty SmallCap index gained 0.27 per cent.

Sectoral indices like Nifty Realty, Nifty Private Bank, and Nifty Media ended with gains, propelled by stock-specific buying activity.

In contrast, Nifty Healthcare, Nifty Pharma, Nifty Consumer Durables, and Nifty Metal ranked among the worst-performing sectoral indices of the session.

Market participants maintained a cautious stance as elevated crude oil prices revived concerns over inflationary pressures and their potential implications for corporate earnings and economic growth.

“Investors are likely to adopt a selective approach, favoring fundamentally robust businesses with resilient earnings trajectories until macroeconomic uncertainties dissipate,” analysts concluded.