slipped into negative territory by midday Monday, reversing the modest gains seen at the opening bell, as selling pressure across consumer, auto, and financial stocks outweighed a strong rally in information technology shares.
At 12:30 PM, the was trading at 74,701.78, down 73.96 points or 0.10 per cent from its previous close of 74,775.74, having opened at 75,203.02.
The was at 23,518.55, down 29.20 points or 0.12 per cent from Friday’s close of 23,547.75. The indices had returned to the consolidation zone established in the third week of May, according to SBI Securities.
Breadth on the was mixed. Of 4,374 stocks traded, 1,833 advanced while 2,320 declined and 221 remained unchanged.
A total of 143 stocks hit 52-week highs against 59 at 52-week lows, while 224 stocks were locked in upper circuits and 222 in lower circuits. The Nifty’s Advance-Decline ratio stood at 18:32, indicating broader selling pressure beneath the headline index.
IT stocks dominated the gainers’ list and provided the primary buffer against a steeper decline. Tech Mahindra surged 4.86 per cent to ₹1,556.00, while Infosys jumped 4.63 per cent to ₹1,214.60 on volumes of over one crore shares valued at ₹1,20,693.55 lakh.
TCS gained 3.34 per cent to ₹2,334.30 on volumes worth ₹1,40,184.24 lakh, and HCL Technologies added 2.27 per cent to ₹1,210.70. Coal India was another notable gainer, rising 3.43 per cent to ₹473.60 on heavy volumes of over 3.42 crore shares worth ₹1,59,888.47 lakh.
On the losing side, Tata Consumer Products fell 1.73 per cent to ₹1,158.00, Max Healthcare dropped 1.68 per cent to ₹948.90, Mahindra & Mahindra declined 1.65 per cent to ₹2,995.20, Hindustan Unilever shed 1.64 per cent to ₹2,118.10, and Bajaj Finance slipped 1.51 per cent to ₹894.50.
Technically, SBI Securities placed the Nifty’s crucial support in the 23,430–23,450 zone, with resistance at 23,670–23,690.
A slip below 23,430 could expose the index to the 23,200–23,100 range, while a break above 23,690 could extend the rally toward 23,890.
On the options front, meaningful call writing was seen at the 23,600 and 23,700 strikes, while the 23,500 put held substantial open interest, followed by the 23,400 strike. For the Sensex, support was placed at 74,500 and resistance at 75,300.
…”The modest rebound reflects more of a technical recovery than a decisive improvement in sentiment, with investors remaining cautious amid persistent geopolitical uncertainty and mixed global cues,” said Ponmudi R, CEO of Enrich Money.
, with US oil trading in the $89–91 zone and MCX Crude Oil above ₹8,500, having opened with a gap up.
, with USD/INR trading below ₹94.90, extending its recent bearish momentum. The pair’s immediate support was placed at ₹94.75–₹94.70, and a break below ₹94.60–₹94.50 could confirm a trendline breakdown and accelerate rupee gains.
range with resistance at $4,580–$4,600. MCX Gold held above ₹1,54,000 with resistance at ₹1,56,000–₹1,57,000. COMEX Silver was weak in the $75–$76 range, while MCX Silver held above ₹2,65,000 with resistance at ₹2,69,000–₹2,70,000.
Foreign institutional selling and unresolved U.S.–Iran negotiations continued to cap upside. …”Until greater clarity emerges on the geopolitical front, markets are likely to remain range-bound and headline-driven,” Ponmudi R added. Markets also awaited the RBI’s monetary policy decision due June 5, with the central bank’s commentary on growth and inflation expected to provide fresh directional cues.