Nifty ends 253 points lower, while the Sensex down by 823 points; Broader Mid and Small caps also witnessed sharp losses underperforming the benchmarks
Shrikant Chouhan,
Head Equity Research,
Kotak Securities:
Mumbai, June 12, 2025: Today, the benchmark indices corrected sharply. The Nifty ends 253 points lower, while the Sensex was down by 823 points. Among sectors, all the major sectoral indices witnessed profit booking at higher levels, but the Capital Market index lost the most, shed over 3 percent. Technically, the market breached the crucial support level of 25,000/82000. Post-breakdown, selling pressure intensified. On daily charts, it has formed a long bearish candle, which supports further weakness from the current levels.
We are of the view that the short-term market texture is weak, but a fresh selloff is possible only after the dismissal of 24,825/81500 or below the 20-day SMA (Simple Moving Average). Below this level, the market could slip to 24,700-24650/81100-81000. On the other hand, above 24,920/81800, we could expect a quick intraday pullback rally up to 25,000-25,050/82000-82150.
Satish Chandra Aluri, Lemonn Markets Desk, adds: Indian equity markets witnessed a sharp selloff on Thursday, as the Nifty 50 closed below the 25,000, erasing the gains of the previous three sessions. The decline was broad-based, with all major sectors ending in the red.
The selloff was triggered by weak global cues, volatility from the weekly F&O expiry, and renewed concerns over global trade and geopolitical tensions. Broader Mid and Small caps also witnessed sharp losses underperforming the benchmarks.
Investors reacted to feeble global cues as markets assessed the uncertain outcome of US-China trade negotiations and rising tensions in the Middle East, which pushed oil prices higher and weighed on risk appetite. The weekly expiry of derivatives contracts added to intraday volatility and profit booking, amplifying the downward move.
Technically, Nifty had weak closing below the 24900-level indicating bearish sentiment and immediate support is placed around the 24850-24800 zone. On the upside, 25000 acts as immediate resistance
