Nifty 50 breaks below 23K! Monthly expiry may keep volatility elevated | Support, resistance, outlook for Sep 29
AI Summary
The Nifty 50's significant drop below the 23,000 mark signals a concerning trend for retail investors, particularly as heavyweights like HDFC Bank and Reliance Industries contributed to the decline. With increased volatility and a bearish technical structure, investors should remain cautious, as the index may face further pressure before establishing a solid recovery base. This scenario highlights the importance of monitoring market breadth and sector performance, as a sustained downturn could present buying opportunities, albeit with heightened risk.
The Nifty 50 started Monday’s session with a gap-down opening and came under immediate selling pressure. Within the first 15 minutes of trade, the index slipped below the crucial psychological mark of 23,000 and remained under pressure throughout the session. It eventually ended the day at 22,780.25, declining 1.56 per cent and marking its lowest close since April 2.
Market breadth remained extremely weak, with only three stocks from the Nifty 50 index closing in positive territory. Heavyweights such as HDFC Bank, Reliance Industries, and ICICI Bank were among the major contributors to the decline, collectively dragging the index lower by around 135 points.
Original Article
Published on Livemint
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This is a market news update from Livemint, published on 28 September 2026.
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