Dalal Street failed to cheer up post Christmas and rang the opening bell on Friday with a heavy sentiment. The BSE Sensex opened the session near 85,280, crashing a little over 130 points, while the NSE Nifty50 started trading at 26,100, slipping close to 50 points, around 9:15 AM.
In the pre-open session, the Sensex tanked over 100 points and fell below 85,300, and the Nifty hovered near 26,100, around 9:06 AM. The GIFT Nifty also remained muted in the morning, giving indications of a tepid session ahead.
Notably, the Indian stock market ended marginally lower on Wednesday as selling pressure in select sectors such as oil and gas, pharmaceuticals and information technology stocks weighed on benchmark indices. Trading activity remained subdued, with investors preferring to stay cautious ahead of the Christmas holiday on Thursday. The Sensex closed at 85,408.70, slipping 116.14 points. The Nifty also ended lower, shedding 35.05 points to settle at 26,142.10.
Sensex, Nifty Trade Lower As Year-End Caution Dominates
Market participants have remained largely on the sidelines amid thin volumes, resulting in a narrow trading range for both benchmarks recently. Analysts noted that the Nifty gravitated towards the 26,100–26,130 support zone, where some buying interest emerged, though it lacked the momentum needed for a decisive rebound.
“Unless the Nifty decisively reclaims the 26,200 level, the short-term outlook remains cautious, with downside risks extending towards 26,100 and lower,” experts said.