Market highlights| NIFTY50 hit by profit-booking, drops below 26,000 mark

Markets started the week on a weak note and lost nearly 1.5% amid weak cues from the Asian markets. After the gap-down start, the NIFTY50 index slipped below the crucial 26,000 mark and ended the session near day’s low at 25,810.

Except for Metals (+1.3%), all the major sectoral indices ended the day in the red with Automobiles (-2.1%) and Financial Services (-1.7%) losing the most.

The NIFTY50 index saw significant profit-taking, falling over 350 points and forming a large bearish candlestick on the daily chart. The lack of a meaningful intraday recovery suggests further weakness in the coming sessions.

However, analysts believe that the broader bullish trend remains intact, with key support in the 25,550-25,650 region. If the index break below this level, followed by a negative close, the broader trend could turn bearish.

• Top gainer and loser in NIFTY50: JSW Steel (+2.7%) and Hero Motorcorp (-4.0%)

• Top gainer and loser in NIFTY Midcap 100: Tube Investments of India (+4.1%) and Bharti Hexacom (-4.1%)

• Top gainer and loser in NIFTY Smallcap 100: Century Textiles (+4.2%) and SW Solar (-4.9%)

Key highlights of the day

Top traded futures contracts

Top traded options contracts

4 trading insights from NIFTY 200🔍

📉Open=High (Bear power): Hero Motocorp, TVS Motor, HDFC AMC, Mphasis and Fsn E-Commerce

📈Open=Low (Bull power): JSW Steel, IPCA Laboratories, AU Small Finance Bank, Dr Lal Pathlabs

🏗️Fresh 52 week-high: JSW Steel, NTPC, Hindalco Industries, Britannia and Colgate Palmolive

⚠️Fresh 52-week-low: N/A

See you tomorrow!