Tuesday, August 18
Mumbai: Indian equities slipped for the second straight session on Tuesday as profit-booking weighed on sentiment, with technical indicators flashing overbought signals on the daily charts. Analysts said geopolitical concerns and a decline in index heavyweights also contributed to fall, though they expect this to be a temporary pause in ongoing rally. The NSE Nifty dropped 71.6 points, or 0.3%, to close at 26,178.7, while the BSE Sensex fell 376.3 points, or 0.4%, to 85,063.34. Both benchmarks had hit fresh intraday highs on Monday before ending lower. "Structurally, the Nifty remains in a robust uptrend, though the current price action suggests a healthy mean reversion, aligning with the historical seasonal sluggishness of January," said Bhavya Shah, technical research analyst at Stoxbox.
