India’s benchmark Nifty 50 index touched a fresh all-time high of around 26,358 points in early trading, signaling continued bullish momentum in the broader market. However, the gains were short-lived, and the index later slipped into negative territory as profit-booking and sector weakness dampened sentiment.
Meanwhile, the BSE Sensex traded lower around 85,623–85,750 levels, giving back some of the previous sessions’ advances. The pullback primarily reflected declines in major IT and banking stocks, which saw notable selling pressure amid mixed earnings cues and downgrades in parts of the technology sector.
Sector performance was mixed: while state-owned banks and select domestic companies showed resilience, large IT firms — including HCLTech and Tech Mahindra — posted losses after broker downgrades, dragging down overall sentiment. Broader markets saw pockets of strength, with small-caps and select mid-caps holding up better amid diversified investor interest.
Investors are now watching global cues, domestic macro data and upcoming corporate results to gauge whether the recent bullish breakout can sustain amid intermittent profit-taking and sector-specific headwinds.