Mumbai, October 28, 2026 (Yes Punjab News)
Benchmark equity indices recovered part of their intraday losses on Wednesday as renewed buying in automobile and select banking stocks improved market sentiment during the second half of the trading session.
The Sensex, which plunged to an intraday low of 72,604, staged a recovery but still closed 353 points lower at 73,246. The Nifty also rebounded from its day’s low of 22,498 before settling 51 points down at 22,699.
According to market analysts, the Nifty remains range-bound on the daily chart, consolidating within the broader 22,400–22,800 band.
“Key support is placed at 22,500, where solid buying interest repeatedly emerges, while 22,800 acts as formidable resistance after the index failed to hold 22,700 during market hours,” analysts said.
Among Nifty constituents, Infosys, Reliance Industries and ONGC were the top laggards, putting pressure on the benchmark indices. In contrast, Larsen & Toubro, Apollo Hospitals, Trent and SBI Life Insurance were among the leading gainers, helping limit the market’s decline.
The broader market outperformed the headline indices, with the Nifty Midcap index rising 0.5 per cent and the Nifty SmallCap index gaining 0.8 per cent.
Automobile stocks led sectoral gains, with the Nifty Auto index advancing 1.5 per cent. Banking shares also attracted buying interest, lifting the Bank Nifty by 0.5 per cent during the session.
However, weakness in technology and energy stocks continued to weigh on the market. The Nifty IT and Nifty Oil & Gas indices declined around 2 per cent each, while the FMCG index slipped 0.6 per cent.
Market experts said buying in automobile and banking shares helped the benchmark indices recover from their intraday lows, although overall sentiment remained under pressure.
“For long-term investors, the focus can gradually shift from managing near-term volatility to selectively accumulating quality businesses at attractive valuations,” analysts noted.
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