StockEdge Morning Market Report | Wednesday, 05 August 2026
Nifty declined 159 points (-0.6%) to close at 24,614.90, while Sensex lost 210 points to end at 78,429. The index remained under pressure throughout the session as profit booking in heavyweight stocks dragged the market lower. Nifty failed to hold above the 24,700 mark and closed near the day's low, reflecting weak short-term sentiment.
Market breadth weakened further with only 14 advances against 35 declines on the Nifty 50, showing that selling was broad-based. FIIs returned as buyers in the cash market with purchases of ₹2,446 Cr, while DIIs booked profits worth ₹936 Cr. Strong buying in FII Index Options worth ₹18,345 Cr indicates traders are positioning for higher volatility. India VIX rose to 12.19 (+2.2%) but continues to remain at comfortable levels.
Global cues were positive. Dow Jones gained 1.46%, Nasdaq rose 2.22%, and the S&P 500 added 1.23%, led by strong buying in technology stocks. Brent crude oil fell nearly 4% to around $80.6 per barrel, which is positive for India's inflation outlook.
Nifty
Nifty has slipped below the immediate support of 24,700, indicating that short-term momentum has weakened. However, the broader trend remains positive as long as the index stays above 24,500.
24,500 is now the key level to watch. If Nifty holds above this zone, buyers may return and the uptrend can resume. However, a break below 24,500 could lead to further profit booking.
Bank Nifty
Bank Nifty also witnessed profit booking but continued to outperform the broader market. PSU banks remained relatively strong, helping the index limit its losses despite weakness in select private banks.
Conclusion
The market is going through a normal profit-booking phase after the recent rally. As long as Nifty holds above 24,500, the broader trend remains positive. Traders should avoid panic selling and focus on quality stocks showing relative strength.
For more market insights & analysis, visit https://sedg.in/3btdq6gx
Nifty declined 159 points (-0.6%) to close at 24,614.90, while Sensex lost 210 points to end at 78,429. The index remained under pressure throughout the session as profit booking in heavyweight stocks dragged the market lower. Nifty failed to hold above the 24,700 mark and closed near the day's low, reflecting weak short-term sentiment.
Market breadth weakened further with only 14 advances against 35 declines on the Nifty 50, showing that selling was broad-based. FIIs returned as buyers in the cash market with purchases of ₹2,446 Cr, while DIIs booked profits worth ₹936 Cr. Strong buying in FII Index Options worth ₹18,345 Cr indicates traders are positioning for higher volatility. India VIX rose to 12.19 (+2.2%) but continues to remain at comfortable levels.
Global cues were positive. Dow Jones gained 1.46%, Nasdaq rose 2.22%, and the S&P 500 added 1.23%, led by strong buying in technology stocks. Brent crude oil fell nearly 4% to around $80.6 per barrel, which is positive for India's inflation outlook.
Nifty
Nifty has slipped below the immediate support of 24,700, indicating that short-term momentum has weakened. However, the broader trend remains positive as long as the index stays above 24,500.
24,500 is now the key level to watch. If Nifty holds above this zone, buyers may return and the uptrend can resume. However, a break below 24,500 could lead to further profit booking.
Bank Nifty
Bank Nifty also witnessed profit booking but continued to outperform the broader market. PSU banks remained relatively strong, helping the index limit its losses despite weakness in select private banks.
Conclusion
The market is going through a normal profit-booking phase after the recent rally. As long as Nifty holds above 24,500, the broader trend remains positive. Traders should avoid panic selling and focus on quality stocks showing relative strength.
For more market insights & analysis, visit https://sedg.in/3btdq6gx