Stock Market Live Update: Vishnu Kant Upadhyay, AVP – Research Advisory, Master Capital Services
Indian benchmark indices witnessed sharp volatility on Thursday, with Nifty 50 and Sensex falling around 1.50% to close at 25,454.35 and 82,498, respectively. In a single session, the market wiped out the gains accumulated over the past three trading days as investors rushed to book profits.
The decline was mainly due to increasing uncertainty over rising tensions in the Middle East, especially after reports of possible US military action on Iran. The development destabilized global markets and pushed crude oil prices to a three-week high, raising new concerns about inflation.
Sector-wise, weakness was seen across the board, with all major sectors reporting losses. Realty and media stocks were the worst performers, falling 2.56% and 2.23% respectively.
From a technical perspective, the 200-day EMA has now become an important level to watch. Although short-term sentiment remains cautious, the 25,350–25,250 zone is expected to act as a short-covering area. At this stage, the market is not expected to extend its decline below this support band.