Broader mid- and small-cap indices bucked the trend to close with gains
Satish Chandra Aluri,
Lemonn Markets Desk
FinTech BizNews Service
Mumbai, May 13, 2025: "Benchmark indices ended lower on Tuesday, likely due to profit booking after Monday’s largest one-day gains in more than four years. Broader mid- and small-cap indices bucked the trend to close with gains.
Markets opened lower and extended their declines throughout the session, as weakness in heavyweights weighed on sentiment. IT, the biggest gainer yesterday, led the losses today, followed by FMCG. On the flip side, PSU banks and pharma were the top sectoral gainers, with the latter rebounding after Trump’s executive order on drug pricing in the US was perceived as less severe than feared. There are also concerns about a possible negative impact of the US-China trade deal on capital flows into India.
On the technical front, the Nifty 50 formed a bearish rejection candle, suggesting likely profit booking or short-term resistance. However, overall momentum remains intact. On the upside, the 24,800–25,000 zone is expected to act as immediate resistance, while 24,500 serves as immediate support on the downside."
