Prime End of the Day Summary: View on Market Performance 29 June 2026

Nifty Ends Lower by Over 100 Points

Last two sessions’ gains were reversed on the first trading day of the week as Nifty declined 109 points to close at 23,946. The index opened marginally higher and extended gains in the first 90 minutes of trade before witnessing a sharp reversal after 10:45 AM, slipping nearly 200 points from its intraday high. NSE cash market volumes surged 35% compared to the previous session, largely driven by Nifty indices rebalancing-related trades.

Within the Nifty pack, Max Healthcare Institute, Dr. Reddy’s Laboratories, and Coal India emerged as the top gainers, while Kotak Mahindra Bank, Mahindra & Mahindra, and Adani Enterprises were among the key laggards.

Sectoral performance remained mixed. Pharma, Healthcare, and Metals led the gains, whereas Auto, Media, and Oil & Gas sectors bore the brunt of selling pressure and ended in the red.

Broader markets moved in line with the benchmark indices, with the Nifty Midcap 100 and Nifty Smallcap 100 declining 0.37% and 0.62%, respectively. Market breadth remained weak, as reflected in the BSE advance-decline ratio of 0.66, indicating a clear tilt towards declining stocks.

After two consecutive sessions of appreciation, the rupee began the week on a weaker note, depreciating by 14 paise. The decline was driven by month-end dollar demand, elevated crude oil prices, and a risk-off sentiment amid rising geopolitical uncertainties.

Technically, Nifty remains supported by the 20-DEMA (23,825) and 50-DEMA (23,848), both clustered near similar levels, while the recent swing low at 23,789 offers an additional near-term floor. On the upside, the key resistance remains at the swing high of 24,261; a decisive breakout above this level would restore the near-term bullish bias. Until then, a cautious stance is advisable, with existing long positions maintained with a stop loss of 23,789.