Nifty Suffers Biggest Single-Day Fall Since June; Closes Below 24,800

Nifty Suffers Biggest Single-Day Fall Since June; Closes Below 24,800

Indian equity markets witnessed a sharp selloff on Wednesday, with benchmark indices extending losses after a six-day winning streak. The Nifty 50 registered its steepest single-session decline since June 12, 2025, closing below the crucial 24,800 mark, dragged down by broad-based weakness across sectors.

The Sensex also slipped sharply in tandem, mirroring global weakness and profit booking at higher levels.

Bank, Midcap and Smallcap Under Pressure

The Nifty Bank index tumbled below the 54,500 level, marking its third consecutive session in the red, with Canara Bank leading the decline. Broader markets bore the brunt of selling, as the Nifty Smallcap index fell nearly 2%, extending its losing streak to four sessions. The Nifty Midcap index also cracked, ending below its past six sessions’ low.

Sectoral Check: FMCG Shines, Realty Hit Hard

Among sectoral indices, Nifty FMCG emerged as the lone bright spot, supported by Britannia Industries and Hindustan Unilever. On the other hand, Nifty Realty was the worst-hit, dragged by losses in Godrej Properties.

The Nifty PSU Bank index slipped further, with all constituents closing in the red, highlighting sustained weakness in the state-run banking pack. Nifty Pharma also ended lower, weighed down by Zydus Lifesciences and Sun Pharma.

Metals, Energy and IT Extend Losses

The Nifty Metal index declined nearly 1.6%, led by Vedanta and Tata Steel, while Nifty Energy extended its losing run to a fourth session, with Siemens and Aegis Logistics among the top drags. Meanwhile, Nifty IT and Nifty Auto closed in negative territory, pressured by Oracle Financial Services Software (OFSS) and Mahindra & Mahindra (M&M) respectively.

Market Outlook

Analysts suggest that after the recent strong rally, the markets are undergoing healthy consolidation. “Weak global cues and sector-specific profit booking are driving volatility. Investors should remain cautious near current levels and watch support zones closely,” said a market expert.