Market Wobble Continues — Banks Slip, IT Picks Up as Rupee Remains Weak

Market Closing

Indian equity markets ended weaker today. The Sensex fell approximately 240 points while the Nifty 50 dipped to around 25,860.
Market breadth was weak with more decliners than gainers, especially in financial and banking names.

What Moved the Markets Today:

Rupee Weakness

The Indian rupee remained under pressure against the US dollar, providing support to IT and export-oriented sectors, but hurting confidence in import-heavy and financial stocks.

Banks & Financial Stocks Lag

Major bank stocks struggled as investors remain cautious about credit growth and higher risk premiums in the financial sector.

IT & Exports Show Relative Strength

Export-oriented IT names such as TCS, Infosys and Wipro saw buying interest, boosted by currency tailwinds and optimism on global demand.

Global Cues & Risk Sentiment

Global equities were mixed today, with currency volatility and macro concerns weighing on markets; this added to sentiment-driven selling domestically.

Sector Spotlight

What to Watch Next

• FII/DII flows: Continued foreign selling may maintain selling pressure.
• Rupee movement: A sustained weak rupee could further influence market rotation.
• Sector rotation: Watch if IT continues to outperform.
• Support levels: Nifty near 25,800; a break could lead to deeper correction. check gmp - GAINIPO GMP Tracker