Market pressure continues to build in today’s session. Nifty is trading around 23,330 (-1.5%), with Bank Nifty down 2.1% and Midcaps slipping 2.2%, showing the selling is not limited to just large caps. Market breadth remains extremely weak with 534 advances vs 2,529 declines, indicating broad-based risk-off sentiment. Almost every sector is in the red. Metals are leading the fall, followed by defence, autos, chemicals and PSU banks. FMCG is the only pocket showing some resilience, holding marginal gains. Structurally the market is looking fragile now. 23,000 becomes the next crucial support zone to watch if selling pressure continues. Escalating tensions in the Middle East and increasingly aggressive statements from both sides appear to be keeping risk appetite subdued for now.

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