Nifty is trading near 24,590 (-0.7%) with pressure largely coming from financials. Bank Nifty is down over 1.3%, with private banks leading the decline. Despite the index weakness, the broader market is holding relatively better. Midcaps are only marginally lower and market breadth is close to balanced with 1453 advances vs 1580 declines. Sector divergence is visible today. Defence stocks are seeing strong buying interest (+2.8%), while railway PSUs are also attracting flows. On the other hand, realty and private banks remain the weakest pockets of the market. From a structure perspective, 24,500 is acting as the immediate support zone. As long as that level holds, the weakness appears driven mainly by financials rather than broad market damage.

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