Share Markets Reverse Rally, Sensex Slips Over 100 Points, Nifty Tests 26,150
Meanwhile, the GIFT Nifty gave indications of a solid session ahead for investors, as the futures index touched 26,260, near 9 AM.
The Indian stock markets began Tuesday's session on a nearly flat note, but looked set to continue the rally from yesterday. The BSE Sensex opened trading around 85,600, inching up 13 points, while the NSE Nifty50 started today's session merely 1 point higher at 26,174.
In the pre-open trading, the Sensex jumped over 100 points to inch closer to 85,700, and the Nifty crossed 26,200, around 9:05 AM. The GIFT Nifty also gave indications of a solid session ahead for investors, as the futures index touched 26,260, near 9 AM.
As markets progressed a bit, the indices dived and started trading in red. Near 9:25 AM, the Sensex tanked more than 100 points and stood below 85,450, while the Nifty breached 26,150.
On the 30-share Sensex, Bajaj Finance, Trent, PowerGrid, NTPC, and Tata Steel stood among the gainers. Meanwhile, the laggards included Infosys, Tech M, TCS, Asian Paints, and HCL Tech.
In the broader markets, the Nifty Next50 climbed 0.31 per cent, while the Midcap Select index slipped 0.19 per cent. Sectorally, the IT and Midsmall IT & Telecom indices clocked losses of more than 1 per cent. On the other hand, the Metal and Financial Services Ex-Bank indices rose 0.54 per cent each.
How Did Markets Fare On December 22?
Notably, both benchmarks ended Monday’s session on a strong footing, with the Sensex surging over 600 points and the Nifty reclaiming the 26,100 level, buoyed by heavy buying in IT, auto and metal stocks amid supportive global cues and renewed foreign fund inflows.
“Indian markets extended their year-end rally, supported by strong liquidity and favourable global cues, as expectations of further easing by the US Federal Reserve in 2026 continue to underpin growth. Foreign Institutional Investors turned net buyers, reinforcing the positive sentiment, with IT and metal stocks leading the gains,” said Vinod Nair, Head of Research at Geojit Investments Limited.
A stabilising rupee against the US dollar, along with data showing foreign portfolio investors returning as net buyers over the past few sessions, triggered broad-based buying and short covering across derivative segments, analysts said.
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