MUMBAI: The markets ended lower on September 27, failing to sustain record highs amid volatility, with selling pressure in media, banking, and realty sectors.
The Sensex dropped 264 points, or 0.31 per cent, closing at 85,571.85, while the Nifty slipped 37 points, or 0.14 per cent, to end at 26,179. Both indices, however, gained 1 per cent for the week.
Earlier in the session, the BSE Sensex and Nifty touched new highs of 85,978 and 26,277, respectively. Despite a flat start, the market reached fresh highs but was dragged into the red by late-session selling.
Losers & gainers
Top Nifty losers included Power Grid Corp, Bharti Airtel, HDFC Bank, ICICI Bank, and Kotak Mahindra Bank, while BPCL, Cipla, Sun Pharma, Coal India, and Reliance Industries led the gainers.
Sectorally, auto, metal, IT, pharma, and oil & gas rose 0.3-2.5%, while realty, power, banking, media, FMCG, and telecom sectors declined by 0.3-1%. The BSE Midcap and Smallcap indices ended flat.
According to experts, the Nifty remains above key moving averages, indicating continued strength as long as it stays above 25,900. A fresh rally could begin if the index rises above 26,300, with potential gains toward 26,600, according to market experts.
“Key support levels for the Nifty are at 26,100/85,300, while resistance is at 26,400/85,900. For Bank Nifty, support lies at 53,500 and 53,100, with profit-booking zones between 54,500 and 54,800,” they note.
