Indian equity benchmarks extended their decline for another session on Wednesday, as profit booking at higher levels and a rebound in oil prices weighed on market sentiment.

The Nifty 50 fell 95.75 points, or 0.42%, to close at 22,620.45, while the BSE Sensex declined 48.78 points, or 0.07%, to settle at 72,480.29.

The broader market showed relative resilience, with the Nifty Smallcap 100 rising 0.27% and the Nifty Midcap 100 edging up 0.02%.

The India VIX, a measure of market volatility, rose 0.61% to 13.50.

Sectoral performance was mixed. The Nifty Healthcare index dropped 3%, while the Nifty Realty index gained nearly 2%.

Market breadth remained tilted towards declines on the NSE, with 1,813 stocks ending lower against 1,740 advances. Another 132 stocks closed unchanged.

Here are today’s top gainers on the Nifty

Here are today’s top gainers on the Sensex

Here are today’s top losers on the Nifty

Here are today’s top losers on the Sensex

After coming under initial selling pressure, the index found support in the 22,600–22,550 zone and attempted a recovery. The rebound, however, met strong resistance near 22,800, triggering fresh selling pressure and pulling the index back towards lower levels by the close.

The failure to sustain gains around 22,800 points to continued selling pressure at higher levels, according to Ponmudi R, CEO of Enrich Money.

On the downside, the 22,600–22,550 zone remains the immediate support area. A sustained break below 22,500 could open the way towards 22,300.

Momentum indicators remain weak, with the RSI continuing to trade in oversold territory in the mid-20s, signalling persistent negative momentum. However, deeply oversold conditions could allow intermittent technical rebounds. The MACD remains deeply negative, reinforcing the prevailing bearish momentum.

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