The Nifty ended 313 points lower, while the Sensex was down by 1048 points.
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, March 2, 2026: Today, the benchmark indices corrected sharply. The Nifty ended 313 points lower, while the Sensex was down by 1048 points. Among sectors, almost all the major sectoral indices witnessed profit booking at higher levels, but the India Tourism index lost the most, shedding over 3 percent.
Technically, on the backdrop of weak global sentiment, our market opened with a gap down. However, it trimmed some losses in the second half of the day. Currently, the market is trading well below short-term and medium-term averages, and on intraday charts, it is holding a weak formation, which is largely negative.
We are of the view that the current market texture is weak but oversold; hence, a technical bounce-back from the current level is not ruled out. For day traders, 24750/80000 would act as a key support zone. As long as the market is trading above this, a pullback formation is likely to continue. On the higher side, it could bounce back till 25,000-25,075/80500-80700. On the flip side, below 24,750/80000 the market is likely to slip till 24,650-24500/79700-79300.
