Nifty slips to 24,882 at midday; IT, Steel, Cement drag as Rupee hits 2026 high
Executive Brief • Key Highlights
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- ✓The Nifty 50 fell 104.60 points to 24,881.80 by 1.21 pm as selling pressure hit IT, metal, and cement stocks.
- ✓CEO Ponmudi R said, “Nifty 50 opened on a higher note near the 25,076 mark; however, it encountered selling pressure at elevated levels.” Many stocks fell while banking shares gained.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Business Line
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
Markets turned sharply lower by afternoon, with the Nifty 50 falling 104.60 points, or 0.42 per cent, to 24,881.80 as of 1.21 pm, after opening at 25,076. The Sensex declined 362.13 points, or 0.45 per cent, to 80,637.27 from its previous close of 80,999.40, as selling pressure broadened across IT, metals and cement sectors, overwhelming early gains in banking and pharma stocks.
Market breadth turned negative on the BSE, where 2,517 stocks declined against 1,757 advances out of 4,530 traded. A total of 133 stocks hit 52-week highs while 52 touched 52-week lows. Stocks in the upper circuit numbered 209 against 174 in the lower circuit.
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