Sensex, Nifty close lower for third straight session; what's next?

Sensex, Nifty today: Benchmark indices fell for the third straight session on Wednesday led by weakness in auto stocks. Nifty closed 38 points lower at 26,140. Sensex too fell 102 points to close at 84,961. The BSE auto index crashed 434 pts to 63,650. However, BSE IT and consumer durables index rose 726 pts and 768 pts, respectively.

Shares of Titan Company (3.94%), HCL Technologies (2%), Infosys (1.72%) and Tech Mahindra (1.53%) were the top Sensex gainers. 

Titan Company issued its Q3 business updates, which led to a rally in the stock. 

Maruti Suzuki (2.84%), PowerGrid (1.64%), HDFC Bank (1.38%) and Tata Steel (1.32%) were the top Sensex losers. 

Overall, of the 4350 stocks actively traded BSE stocks, 2080 closed higher, 2105 declined, and 165 remained unchanged. At the end of session, 140 stocks touched their 52-week highs, while 121 fell to 52-week lows. Meanwhile, zero stocks hit their upper circuits and seven ended at their lower circuits.

Aakash Shah, Research Analyst, Choice Equity Brokin said, "On the upside, the 60,200–60,300 zone remains a crucial resistance, and a decisive move above this range could revive upside momentum. Volatility stayed largely muted, with India VIX remaining in the lower band, reflecting stable near-term market expectations. Overall, market sentiment continues to remain positive but cautious, with consolidation likely to persist in the near term. Stock-specific action is expected to dominate, as participants remain selective at higher levels."

Ajit Mishra – SVP, Research, Religare Broking said, "The Nifty has moved closer to its first line of support, the 20-day DEMA, following the recent dip. The index is likely to find near-term support in the 26,000–26,100 zone, with a stronger base placed around 25,800. However, continued profit booking and earnings-related reactions in select heavyweights may limit the pace of any immediate recovery." 

Previous session 
Benchmark indices fell for the second straight session on Tuesday led by weakness in oil and gas stocks. Nifty closed 71 points lower at 26,178. Sensex too fell 376 points to close at 85,603.