The Nifty 50 index slipped below the key 22,500 mark, reflecting continued weakness in the broader market amid ongoing global uncertainties. As of 11:15 AM, the index was trading at 22,482.10, down 337.50 points or 1.48% for the day.
The index opened at 22,549.65 and touched an intraday high of 22,714.10 before selling pressure dragged it to a low of 22,454.00. The sharp decline comes after the index had previously closed at 22,819.60, indicating sustained downward momentum.
Derivatives data also suggests increasing bearish positioning in the market. Among the most actively traded options, put options around the 22,500–22,600 strike saw gains, while call options at similar levels witnessed sharp declines, pointing to rising hedging activity and cautious sentiment among traders.
According to market experts, the current correction may be part of a broader consolidation phase, even as global macro conditions show early signs of improvement. Analysts note that softer crude oil prices, a potentially weakening US dollar, and stable currency conditions could act as supportive triggers for emerging markets, including India.
Experts also highlight that crude oil appears to be forming a topping-out pattern, which, if sustained, could ease inflationary pressures and improve India’s macro outlook. Additionally, expectations of a softer US dollar index may boost risk appetite and support foreign institutional inflows into Indian equities.
However, analysts caution that while macro indicators are gradually turning favourable, near-term volatility is likely to persist. The recent decline in the index reflects ongoing uncertainty and profit booking at higher levels.
Overall, experts suggest that improving global cues could support a gradual recovery in equities, but investors should remain cautious as markets continue to react to geopolitical developments and evolving macro trends.