Nifty Today: Index slips below 24,400 as metal stocks drag; Can it reclaim 24,500?
The Sensex, which closed at 78,079.96 on Thursday, opened at 77,903.43 and fell to 77,774.69, shedding 305.27 points or 0.39%, in early trade
The Nifty slipped below 24,400 points on Friday, August 14 as metal stocks dragged the market down. The benchmark index opened at 24,361.90, falling further to 24,319.60 by 9.28 AM, a drop of 76.25 points or 0.31%. The Sensex opened at 77,903.43 and slipped to 77,774.69, losing 305.27 points or 0.39%. Among Nifty 50's top losers, TMPV fell 4.16% to ₹335.05, Hindalco dropped 1.72% to ₹1,028.30, and Max Healthcare fell 1.61% to ₹997.00.
Gainers included Apollo Hospitals, Eternal and Adani Ports. Metal and Banking stocks remained under pressure, with Chemicals, Realty, and Healthcare stocks offering selective support. The market's range between 24,200 and 24,500 has shown no signs of a clean breakout. Geojit's Dr. VK Vijayakumar noted crude oil as a key variable, with Brent cooling off to below $87.
Foreign Institutional Investors sold equities worth ₹510 crore, while Domestic Institutional Investors supported the market by buying equities worth ₹4,353 crore. Traders are advised to buy select stocks between 24,400 and 24,300, expecting a bullish continuation above 24,500 levels.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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