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Nifty and Sensex slip as traders cite higher bond yields and crude volatility

The Nifty 50 closed 1.6% lower at 25,169.5, while the Sensex ended down 1.7% at 73,580 after a selloff extended to mid and small caps.

Reported · Written up by our desk · India

Indian stocks fell on September 24, with the Nifty 50 and Sensex closing more than 1.5% lower as investor sentiment was pressured by surging global bond yields and volatility in crude oil prices, LiveMint Markets reports.

The Nifty 50 fell 1.6% to 25,169.5, while the Sensex finished at 73,580, down 1.7% from the prior session. The decline spread to broader indexes, with the Nifty Midcap 100 dropping 2.6% and the Nifty Smallcap 100 falling 2.3%.

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said the Nifty formed a bearish candle with a gap-down opening and closed near the 23,000 zone, breaking below a prior low near 23,100. She flagged 23,000 as a crucial support, with 22,600 and 22,200 as next major support levels, and noted 23,600 as an important resistance zone to watch.

On the Bank Nifty, Parekh pointed to a gap-down open followed by further weakness, with profit booking moving below the 55,700 support. She cited 54,500 and the 53,000 zone as next supports, while calling for a decisive move above 56,700 to improve the bias; she also set the day’s support at 22,800 levels and resistance at 23,300 levels.

Latest closeWTI crude $95.27 ▲3.4%|Sensex 73,580.54 ▼1.7%

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