Nifty Falls 86 Points as Rupee Hits Record Low, Crude Surges

Nifty slipped 86 points to close at 24,032, extending its alternating day pattern as weakness at the open gave way to a strong intraday recovery. After falling to 23,882, the index rebounded sharply in the latter half, indicating buying interest near support levels.

FMCG, auto, and pharma stocks outperformed, while private banks and select financials lagged. Market sentiment remained cautious as the rupee hit a fresh record low amid surging crude prices, geopolitical tensions, and continued capital outflows.

Nifty continues to consolidate around its 50‑DEMA, with 23,800 acting as key support and 24,334-24,600 as resistance.

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