Indian benchmarks reversed course dramatically on Thursday, opening lower after three days of upward momentum. Sensex debuted at 83,968.43, down 265 points from 84,233.64. Nifty 50 opened at 25,906.70, a 47-point drop from 25,953.85, as selling gathered pace early.
At 9:28 AM, Sensex stood at 83,828.51 (-405 pts, -0.48%), Nifty at 25,840.40 (-113 pts, -0.44%). Broader indices weakened further: Midcap -0.78%, Smallcap -0.98%.
The IT pack suffered most, Nifty IT down >4%, featuring Infosys (-5%), TCS/HCL Tech (-4.4% each), Tech Mahindra (-4.24%), Wipro (-3.32%), Eternal (-2.23%). Falls also in HDFC Life, Jio Financial, M&M, SBI Life.
Counterperformers: ICICI Bank, SBI, Eicher Motors, HUL, NTPC, BEL, Axis Bank. Sectors mixed—FMCG +0.04%, Auto -0.35%, Bank -0.02%.
Per Choice Broking’s Akash Shah, prior session’s tight range post-gap up showed hesitation. Technicals: Pressure at 26,050-26,100, support 25,800-25,850. FII buying streak hit ₹943cr net (Feb 11), DIIs sold >₹125cr.
In uncertain times, adopt selective approach: Buy strong fundamentals on dips, wait for 26,000 hold for longs. Global volatility demands discipline, but corrections offer value hunting chances in resilient sectors.