Hindalco also joined the losers, sliding more than 2%. Options data reflected defensive positioning, with heavy call writing at 23,300–23,400 strikes and strong put interest at 23,200 and 23,100. Market breadth remained weak, with the Nifty advance-decline ratio at 7:43. Only four Nifty stocks—Cipla, SBI Life, Bharat Electronics, and NTPC—traded in positive territory. Elevated crude prices near $91 and US Treasury yields above 5% further weighed on sentiment, while geopolitical tensions kept risk appetite subdued.
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