Bearish Risk: Nifty Lower on Geopolitical Woes, IT Weakness; Watch

Indian equities experienced significant volatility on expiry day, closing lower due to profit booking in broader markets and a notable weakness in the IT sector. Geopolitical concerns and a cautious global sentiment contributed to the negative close, despite some support from banking and pharmaceutical stocks.

This indicates a prevailing risk-off sentiment among investors, suggesting that the market may continue to face headwinds. The weakness in IT, a key export-oriented sector, coupled with broader market profit booking, could signal a broader correction or consolidation phase for the Indian indices.

IT stocks are likely to face continued selling pressure, impacting major players. Conversely, banking and pharma stocks showed resilience, suggesting they might act as defensive plays. MTAR Technologies, mentioned in the context, saw a significant 12% drop, highlighting the vulnerability of specific mid-cap stocks to profit booking.

Traders should monitor global cues, especially geopolitical developments, and FII/DII activity for directional clarity. Key support levels for Nifty and Sensex will be crucial. Watch for any signs of reversal in IT stocks or sustained strength in banking and pharma sectors.

• •Indian equities ended lower amid expiry-day volatility.
• •Rising geopolitical concerns contributed to the market decline.
• •Profit booking was observed in broader markets.
• •Weakness was noted in IT stocks.
• •Cautious global sentiment overshadowed market support.