Mumbai, Aug. 19: Indian benchmark equity indices extended their recent decline on Wednesday, with the Nifty recording its seventh consecutive losing session and the Sensex falling for the fourth straight day amid weakness in global equity markets.
The Nifty declined 76.60 points, or 0.32 per cent, to close at 24,078.30, while the Sensex fell 325.78 points, or 0.42 per cent, to settle at 76,909.68.
With Wednesday’s decline, the Nifty registered its longest losing streak since September 2025, reflecting continued pressure on domestic equities as investor sentiment remained cautious.
Market participants are now closely watching the 24,000 level on the Nifty, which is being viewed as an important psychological support zone.
According to market experts, a close below 24,050 could increase the possibility of the index testing the 24,000 level in the following session. On the upside, the 24,200–24,300 range is expected to act as an immediate supply zone in the event of a recovery.
The weakness was not restricted to the benchmark indices.
The broader market also ended lower, with the Nifty MidCap index declining 0.21 per cent and the Nifty SmallCap index falling 0.51 per cent.
Among the Nifty constituents, Max Healthcare Institute, Coal India and Power Grid Corporation of India emerged among the biggest laggards during the session.
Sectoral performance remained mixed. The Nifty Chemical index was the biggest underperformer, while the Nifty IT index emerged as the strongest-performing sector during the trading session.
Within the 30-share Sensex pack, HCL Technologies, Eternal, Kotak Mahindra Bank, Sun Pharmaceutical Industries and Titan were among the notable gainers.
On the losing side, Power Grid Corporation, Bajaj Finance, Larsen & Toubro, ITC and Hindustan Unilever were among the major drags on the index.
The continued weakness in domestic equities came against the backdrop of losses across global markets, which kept investors cautious and extended the selling pressure seen in recent sessions.
The decline also comes as the first-quarter earnings season for FY27 draws towards a close. According to market analysts, corporate earnings have generally exceeded expectations, providing some confidence regarding the resilience of company earnings.
However, analysts noted that as temporary factors supporting the market begin to fade, the next phase of market movement could depend significantly on the stability of crude oil supply chains.
This could remain an important factor for investors as developments in global markets and energy supplies continue to influence risk sentiment.
The seven-session losing streak has brought the Nifty closer to the closely watched 24,000 mark, making the index’s movement around this level significant for near-term market direction.
For now, the immediate focus remains on whether the Nifty can hold above its key support zone or whether continued weakness in global markets could push the benchmark below the 24,000 level.
With mixed sectoral performance and continued pressure on broader markets, investor sentiment is likely to remain cautious as traders assess corporate earnings, global equity trends and developments affecting crude oil supplies.
