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Below the Quote on Post Market Comment by Mandar Bhojane, Research Analyst, Choice Broking

Indian benchmark indices ended marginally lower in a highly volatile session on August 6, with the Nifty below 24,000. At close, the Sensex was down 125.84 points or 0.16 percent at 78,633.56, and the Nifty was down 63.05 points or 0.26 percent at 23,992.55.

The Nifty opened with a gap up of 134 points due to global market influences, made a high of 24,382.6, and again broke the crucial 24,000 level. After a volatile session, it finally settled at 23,992.55, indicating bearish pressure in the market. On the daily chart, the price is taking support at the 50 EMA, which acts as a support level. If the price closes below yesterday’s low, which is 23,893.70, it may further correct to the 23,800 and 23,600 levels. On the flip side, 24,200 and 24,400 will act as important resistance levels.

Among sectors, auto, bank, and oil & gas were down 0.5 percent each, while IT, metal, and realty were up 0.3-0.8 percent. The BSE midcap and smallcap indices each shed 0.5 percent.

The India VIX, reflecting market volatility, increased by 36.99 percent to close at 18.7425, indicating heightened market volatility. Open Interest (OI) data highlighted the highest OI on the call side at the 24,300 and 24,500 strike prices, while on the put side, it was concentrated at the 23,500 strike price.

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