5 days ago
Indian Market Falls as Profit Booking Pressures Benchmark Indices
India’s stock market had a difficult trading session.
The Sensex dropped by 539 points.
This happened as some investors sold shares to lock in profits.
A few pharmaceutical and healthcare stocks still attracted buying.
The capital market index fell by more than 1 percent.
Analysts said the market looks weak on short-term charts.
If the market stays above 77,000, it might recover a little.
If it falls below 76,700, more selling could follow.
Possible lower levels mentioned were 76,500 to 76,200.
The Sensex fell 539 points as investors booked profits at higher levels.
Selective pharmaceutical and healthcare stocks saw intraday buying.
The capital market index declined by more than 1 percent.
Analysts described the market’s intraday technical structure as weak and largely negative.
A move above 77,000 could trigger a bounce, while a fall below 76,700 may intensify selling.
- Who
- Indian market investors, with analysis from Shrikant Chouhan of Kotak Securities.
- What
- Benchmark indices declined, with the Sensex losing 539 points amid profit booking.
- Where
- Mumbai.
- When
- The article does not specify the date or trading session.
- Why
- Investors booked profits at higher levels, while technical indicators showed weakness.
Key facts
- Sensex movement
- Down 539 points
- Market condition
- Largely negative
- Strong sectors
- Selective pharmaceutical and healthcare stocks saw intraday buying
- Weak index
- The capital market index shed more than 1 percent
- Key support zone
- 77,000
- Potential upside
- A move above 77,000 could lead to 77,500–77,700
- Downside trigger
- Below 76,700, the market could fall toward 76,500–76,200
Quotes
Shrikant Chouhan
Head of Equity Research at Kotak Securities
“We are of the view that the intraday market texture is weak, but we could expect a one technical bounce back if the market manages to trade above 77,000 support zone”
thehansindia.com
Sources
Related news
Sensex Falls as Selling Pressure Signals Further Market Weakness
Indian Market May Weaken After Selling At Higher Levels
Sensex Faces Selling Pressure as Analyst Warns Further Weakness
Indian Markets Stay Weak as Profit Booking Continues
Sensex Up 114 Points as Profit Booking Continues at Highs
Market indecisive between bulls and bears; Sensex higher
Major Banks Cut FCNR Deposit Rates After Subsidy Ends
Axis Securities Names 15 Stocks With Up To 40% Upside
Indian Market Ends Lower as Volatility Keeps Trading Non-Directional
Anand Mahindra Says Businesses Need Stability and Direction
Gold loans set for Rs 30 lakh crore by FY28
