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The broader markets bore the brunt of the sell-off, with the Nifty Smallcap 100 plunging 2.37% and the Nifty Midcap 100 falling 1.58%, significantly underperforming the benchmark indices. Sectoral performance remained mixed, with information technology emerging as the sole major bright spot, gaining 2.88%. Chemical stocks led losses, while banking shares remained under pressure following disappointing results from private-sector lenders earlier in the week. Market breadth on the NSE remained negative, with 2,988 stocks advancing against 608 declining, while 102 stocks were unchanged, out of a total of 3,698 stocks traded. ALSO READ: Eternal Q2 Results: Profit soars 92% YoY to Rs 125 crore; revenue zooms 78% Here are today’s top gainers on the Nifty Nifty faced selling pressure near its 38.2% Fibonacci retracement level during the ongoing mean-reversion rally. Monday’s developments and Wednesday’s price action indicate weakening momentum, while the potential hidden bearish divergence suggests a possible continuation of the prevailing downtrend, according to Vatsal Bhuva, Technical Analyst at LKP Securities. "A cautious stance is advisable, with 22,650–22,700 acting as a crucial support zone around the 200-WMA. If the index breaks below this zone, accumulated positions from the relief rally should be reviewed or reduced. Immediate resistance is placed at 23,000," said Bhuva. Disclosure: This article has been written by Kumar Gaurav, who is not a Sebi-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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