Nifty snapped its six session winning streak

Nifty broke six session’s winning streak by falling 253 points or 1.01%, to close at 24888. After showing strength in the first fifteen minutes of trade, the trend swiftly reversed From its early morning high of 25,196, the Nifty nosedived by a substantial 371 points towards 24,825. Sharp fall in the US markets futures and Escalating tensions in West Asia weighed down the investor sentiment. Trading volumes on the NSE cash market were down by 7% as compared to yesterday.

Apollo Hospital, Asian Paints and Bajaj finserve were amongst the major gainers on the Nifty, showing some resilience. Conversely, Tata motors, Trent and Titan faced significant selling pressure and ended as major losers.

The Indian Rupee today depreciated 9 paise against the greenback to settle at 85.90 levels. The Indian rupee was worst-performing Asian currency today, battered by risk-averse sentiments and a surge in crude oil prices driven by geopolitical concerns. Weak domestic equities have further weighed on the Indian currency.

The Nifty Midcap and Smallcap Indices continued their downward journey for the second consecutive day. The Nifty Midcap 100 Index plunged by 1.60%, while the Nifty Smallcap 100 Index plummeted by 1.78%. Market breadth turned decisively negative after six days of positive readings, with declining stocks significantly outpacing advancing ones. The advance-decline ratio on the BSE stood at a low 0.47, its lowest since May 6, 2025.

Except Nifty healthcare sector, which ended slightly in the green, all other sectoral indices ended in the red. Amongst them Realty, Consumer durables, OIL/GAS and Auto ended sharply in the red.

Technically, after forming a “Doji” candlestick pattern on the daily chart on June 11, 2025, the Nifty has followed through with a clear downward move today, signaling further weakness in the market. Immediate support for the Nifty is now seen at 24,750, followed by 24,500. On the higher side, the previous support band of 25,000-25,050 could now interchange its role as a resistance band, indicating that any bounce attempts might face selling pressure around these levels.