Midday markets show mixed trends; Nifty, Sensex down

NSE Nifty was down by 0.26 per cent or 57 points to 22,245, while the BSE Sensex was at 73,307 down by 0.28 per cent or 204 points. A total of 3,015 stocks were actively traded, 1,720 advanced, while 1,182 declined and 113 stocks remained unchanged where 61 stocks hit a 52 week high and 21 stocks hit a 52 week low at 9.50 am on the BSE.

NSE Nifty was down by 0.26 per cent or 57 points to 22,245, while the BSE Sensex was at 73,307 down by 0.28 per cent or 204 points. A total of 3,015 stocks were actively traded, 1,720 advanced, while 1,182 declined and 113 stocks remained unchanged where 61 stocks hit a 52 week high and 21 stocks hit a 52 week low at 9.50 am on the BSE.

Shrey Jain, Founder and CEO SAS Online, India’s Deep Discount Broker, said, “Market pressure, fueled by uncertainty over the election outcome and heightened volatility, is poised to drive domestic benchmark indices lower. For today’s Bank Nifty expiry, the 48000 Put strike is seeing substantial open interest (OI), expected to offer immediate support. However, if Bank Nifty struggles to maintain levels above 48000, it could slide further towards the 47500 mark.

Also Read: Air India Express cancels flights due to cabin crew shortage: SourcesRegarding the Nifty, the 22500 Call strike holds noteworthy OI, establishing itself as a crucial resistance zone for the day. This strike exhibits significant OI of approximately 180 lakhs shares. On the Put side, the 22300 strike holds substantial OI of around 81 lakhs shares.”

Major gainers on the NSE include, BPCL (2.43%), Coal India (2.34%), NTPC (1.78%), Power Grid (1.64%), Tata Consumers (1.36%). Major losers include, Dr Reddy’s Lab (-3.40%), Asian Paints (-2.35%), Hindustan Unilever (-2.01%), Shriram Finance (-1.29%), HCL Technologies (-1.22%)

BSE Smallcap was up by 0.84 per cent and Midcap up by 0.87 per cent.

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