SUNPHARMA

pharma nifty

Market breadth remains weak even as several sectoral indices trade higher, led by gains in metals, oil & gas, and midcap stocks. Banking stocks present a mixed picture, with PSU banks and realty under pressure, while private banks hold relatively steady. Defensive sectors such as FMCG and pharma are seeing modest buying, reflecting cautious optimism alongside selective sector rotation. Indices closed lower on Tuesday after a volatile session that saw markets swing between gains and losses. Investor sentiment turned cautious amid rising crude oil prices and escalating tensions in the Middle East, with banking stocks emerging as the biggest laggards. The Nifty 50 declined 97 points, or 0.4%, to settle at 23,995.70. Meanwhile, the BSE Sensex fell 416.72 points, or 0.5%, to close at 76,886.91. Looking ahead, the Nifty is expected to face resistance in the 24,115–24,150 range. A decisive breakout above 24,150 would be needed to trigger a sustained upward move. On the downside, immediate support is seen at 23800, and a breach below this level could lead to increased weakness. The Indian rupee snapped its five-session losing streak, recovering in line with gains across regional currencies. However, sentiment remains cautious as markets anticipate possible intervention by the Reserve Bank of India near the 94.30 level, along with continued pressure from elevated crude oil prices.