The Sensex shed 501 points, or 0.61%, to close at 81,757, while the NSE Nifty fell 143 points, or 0.57%, to end at 24,968. The total market capitalisation of BSE-listed companies declined by Rs 2.61 lakh crore to Rs 458.26 lakh crore.
Here’s how analysts read the market pulse:
A broad-based sell-off was observed in the domestic market amidst a disappointing initial set of earnings from the finance and IT sectors, said Vinod Nair, Head of Research at Geojit Financial Services, adding that “elevated valuations in large-cap stocks, coupled with significant net short positions held by FIIs, have contributed to a cautious sentiment among investors.”
“Moreover, additional tariff threats are also casting a shadow on India’s trade relationship with Russia. Despite these pressures, the medium- to long-term outlook for India remains optimistic, supported by low inflation levels and a proactive monetary authority committed to sustaining economic growth,” said Nair.
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US markets
U.S. stocks closed largely unchanged on Friday, recovering from an intraday dip after a Financial Times report suggested US President Donald Trump is advocating for significant new tariffs on European Union goods.The S&P 500 edged down 0.57 points, or 0.01%, to close at 6,296.79, while the Nasdaq Composite inched up 10.01 points, or 0.05%, to 20,895.66. The Dow Jones Industrial Average slipped 142.30 points, or 0.32%, ending the day at 44,342.19.
European Markets
European shares ended flat on Friday, with gains in oil and gas stocks balancing declines in heavyweight healthcare names, wrapping up a week marked by a flurry of corporate earnings across the region.
The pan-European STOXX 600 index closed unchanged at 547 points, posting a slight weekly decline.
Tech View
The Nifty remained under selling pressure, falling towards 24,900 where it found initial support, said Rupak De, Senior Technical Analyst at LKP Securities, adding that the index stayed above the 50-day exponential moving average (50EMA) and appears poised for a short-term pullback after a sharp correction.
“However, it remains a ‘sell on rise’ as long as it trades below 25,260. On the downside, selling may intensify if it breaks below 24,900,” said De.
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Most active stocks in terms of turnover
Axis Bank (Rs 4,211 crore), Gujarat Mineral Development (Rs 2,002 crore), ICICI Bank (Rs 1,603 crore), HDFC Bank (Rs 1,588 crore), Reliance Industries Ltd (Rs 1,519 crore), SBI (Rs 1,267 crore), and Polycab India (Rs 1,119 crore) were among the most active stocks on the BSE in value terms.
Higher activity in a counter by value helps identify stocks with the highest trading turnover during the day.
Most active stocks in volume terms
Vodafone Idea (28.52 crore shares), JP Power (19.19 crore), NMDC (5.88 crore), YES Bank (5.57 crore), Ola Electric Mobility (5.12 crore), Alok Industries (4.95 crore), and Gujarat Mineral Development (4.72 crore) were among the most actively traded stocks on the NSE in volume terms.
Stocks showing buying interest
Shares of Gujarat Mineral Development, Saregama India, PVR, Chennai Petro, Sammaan Capital, Raymond, and Whirlpool India were among those that witnessed strong buying interest from market participants.
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52-week high
Over 143 stocks hit their 52-week highs today, while 45 stocks slipped to their 52-week lows.
Stocks seeing selling pressure
Stocks that witnessed significant selling pressure included DB Realty, Clean Science & Technology, Newgen Software Technologies, Alok Industries, Axis Bank, Route Mobile, and Data Patterns (India).
Sentiment meter: Bearish
Market sentiment was bearish. Out of the 4,208 stocks that traded on the BSE on Friday, 2,394 declined, 1,657 advanced, while 157 remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
