10/03/2026
Market Watch: Sensex Cools Off After a Blistering Start!
It was a classic case of "buy the rumor, sell the news" on Dalal Street today. While the bulls charged hard at the opening bell, pushing the Sensex up a whopping 960 points, profit-taking has pulled it back by about 450 points from the highs.
As of afternoon trade, the Sensex is at 78,063.99 (up 497 pts), and the Nifty is hovering near the 24,222 mark.
🤔 3 Key Reasons Why the Market Gave Up Gains:
1️⃣ Profit Booking in IT Stocks: After a strong run, investors decided to cash out of IT heavyweights. Infosys and Coforge dipped over 1-2%, pulling the IT index down by nearly 1%.
2️⃣ Weekly Nifty Expiry: It's weekly expiry day! This always brings a bit of extra volatility and choppiness to the market as traders roll over or settle their positions.
3️⃣ FII Selling Pressure: The selling spree by Foreign Institutional Investors (FIIs) continues. They offloaded over ₹6,300 crore worth of equities just yesterday, keeping sentiment in check.
🔮 The Technical View:
According to analysts, the immediate resistance for the Nifty is in the 24,300–24,370 zone. If the index can break past this range convincingly, it might just pave the way for a rally towards the 25,000 mark.
Are you holding through the volatility, or did you book profits today? Let me know in the comments! 👇