Markets consolidate in narrow band as profit-booking continues after three-day rally

Market Overview - Markets traded in a narrow range with the Nifty 50 declining by 64.85 points or 0.26% to 25,358.75 and the Sensex dropping by 289.47 points or 0.35% to 82,724.49 during the afternoon session [1] - The indices opened marginally lower, with the Nifty starting at 25,410.20 and the Sensex at 82,946.04, reflecting cautious market sentiment [2] Gainers and Losers - Adani group stocks led the gainers, with Adani Enterprises surging 6.87% to ₹2,567 and Adani Ports climbing 3.18% to ₹1,457.70 [3] - On the losing side, HCL Technologies declined 1.48% to ₹1,471.70, followed by ICICI Bank falling 1.27% to ₹1,403.70 [4] Sector Performance - Sector-wise performance was mixed, with the Nifty Financial Services index declining 0.61% to 26,531.50 and the Nifty Bank index falling 0.44% to 55,472.60 [5] - Mid-cap stocks showed resilience, with the Nifty Midcap 100 gaining 0.15% to 59,141.50 and the Nifty Next 50 advancing 0.59% to 69,710.55 [5] Market Breadth - Market breadth remained balanced with 2,006 advancing stocks against 2,034 declining stocks on the BSE, and 185 stocks unchanged [6] - A total of 152 stocks hit 52-week highs while 50 touched 52-week lows, indicating a mixed sentiment in the market [6] Technical Analysis - Technical analysts noted profit-booking pressure after the recent rally, with key support levels at 25,325 and 25,150, while resistance remains around 25,500-25,600 [7] - Option data suggests a balanced tug-of-war between bulls and bears, with Call writers defending higher levels and Put writers supporting lower zones [7]