Market wrap: Bajaj Finance, Cipla, Nestle India, Eternal top gainers and losers on Nifty and Sensex on Thursday

The Nifty 50 declined 124 points, or 0.54%, to close at 22,688, while the BSE Sensex shed 460 points, or 0.62%, to settle at 73,249.

Broader markets underperformed the benchmarks, with the Nifty Smallcap 100 and Nifty Midcap 100 indices falling around 1% each. Meanwhile, the India VIX, a gauge of expected market volatility, edged up to 15.82, signalling heightened caution among investors.

Sectorally, the Nifty Auto, Nifty FMCG, Nifty Metal and Nifty IT indices declined by up to 1%. Market breadth remained firmly negative on the NSE, with 2,512 stocks declining against 1,026 advances, while 104 stocks ended unchanged.

Here are today’s top gainers on the Nifty

From a technical point of view, Nifty50 remained largely range-bound between 22,600 and 22,785 for the remainder of the session, with the 22,800 zone acting as a near-term key resistance, according to Ponmudi R, CEO of Enrich Money. On the upside, reclaiming 22,800 would be necessary to improve near-term stability and create scope for a recovery.

On the downside, the 22,600–22,550 range forms the immediate support zone, Ponmudi believes. A sustained breakdown below 22,500 could accelerate selling pressure and drag the index towards the 22,300–22,200 region.

"Momentum indicators remain weak, with the RSI near 44, indicating a bearish bias. The MACD histogram remains positive at 68.85, with the MACD line at -167.07 above its signal line at -235.92, suggesting that some recovery momentum persists despite the latest decline."

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