Nifty slips below 24,100 as crude spikes; ITC, Bharti Airtel gain, TCS, Nestle decline
Strong domestic GDP growth and sustained DII buying offered some support, though global cues kept investors cautious at the start of trade
On Tuesday morning, the Nifty 50 slipped below 24,100, down 0.17 percent from the previous close, as crude oil prices spiked and global bond yields rose, amid renewed US-Iran tensions. Banking stocks showed relative resilience, with Bank Nifty closing 0.92 percent higher after recovering from a low of 57,200. Stronger-than-expected Q1 GDP data, with growth at 7.8 percent, gave domestic markets some support.
However, foreign institutional investors sold equities worth ₹7,985 crore, while domestic investors bought ₹4,588 crore, offering some cushion. The Nifty 50's range is expected to stay between 23,000 and 25,000, with traders watching the 24,000 level closely as a critical support level.
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