Nifty falls for 7th day, Sensex slips 326 points on global cues

Nifty extends losing streak to 7th day, Sensex falls for 4th session

Mumbai, Aug 19

The Nifty declined 76.60 points, or 0.32 per cent, to settle at 24,078.30, while the Sensex fell 325.78 points, or 0.42 per cent, to close at 76,909.68. With Wednesday's decline, the Nifty posted its longest losing streak since September 2025.

Commenting on Nifty technical outlook, experts said that attention now shifts to the psychologically important 24,000 support level.

"A close below 24,050 would increase the likelihood of a test of 24,000 in the next session, while the 24,200-24,300 zone is expected to act as the immediate supply area on any recovery," a market expert noted.

Among Nifty constituents, Max Healthcare Institute, Coal India and Power Grid Corporation of India emerged as the biggest laggards. In the broader market, the Nifty MidCap index declined 0.21 per cent, while the Nifty SmallCap index fell 0.51 per cent.

Sectoral trends remained mixed, with the Nifty Chemical index emerging as the biggest underperformer, while the Nifty IT index outperformed other sectors.

Within the Sensex pack, HCL Technologies, Eternal, Kotak Mahindra Bank, Sun Pharmaceutical Industries and Titan were among the notable gainers. On the other hand, Power Grid Corporation, Bajaj Finance, Larsen & Toubro, ITC and Hindustan Unilever were among the major losers.

Experts said that the continued weakness in domestic equities came against the backdrop of losses in global markets, keeping investor sentiment cautious and extending the recent pressure on benchmark indices.

"As the Q1 FY27 earnings season draws to a close, corporate results have generally exceeded expectations, reinforcing confidence in earnings resilience," an analyst stated.

"However, with temporary market tailwinds fading, the next phase of market performance will depend largely on the stability of crude oil supply chains," a market expert mentioned.

— IANS