Indian equity markets closed on a cautious note today, extending losses for the third consecutive session, as benchmark indices remained locked in a tight consolidation band amid persistent overhead resistance and rising global macro uncertainty. The rise in U.S. bond yields ahead of the Federal Reserve’s policy decision, along with mounting currency pressures, reinforced a risk-off mood, prompting traders to pare exposure and adopt a more defensive stance, with small- and mid-cap counters bearing the brunt of the selling.

Nifty 50 opened on a positive footing but quickly ran into selling pressure near the 25,950 resistance zone. The index then drifted into a pattern of lower highs and lower lows, testing the 25,735 intraday low, almost identical to the previous session’s bottom. Once ag

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