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The 30-stock BSE Sensex dropped 721 points, or 0.88%, to finish at 81,463, while the NSE Nifty slipped 225 points, or 0.90%, to end at 24,837.
Here’s how analysts read the market pulse:
Subdued corporate results and lacklustre global cues triggered a broad-based sell-off across domestic equities, said Vinod Nair, Head of Research, Geojit Investments, adding that “Elevated valuations in large-cap stocks, coupled with significant net short positions held by FIIs, added to the downward pressure.”
“Investor sentiment remained fragile amid ongoing uncertainty over U.S.-India tariff negotiations and the ECB maintaining the status quo, with rate cuts deferred until clearer insights emerge on the inflationary impact of trade developments. Moderation in DII inflows after the strong buying of the last 2-3 months due to a muted earnings season and persistent FII selling continues to impact the current market,” said Nair.
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US markets
The S&P 500 and Nasdaq closed at record highs on Friday, buoyed by optimism over a potential U.S.-EU trade agreement, while shares of Deckers Outdoor rallied after the UGG and Hoka maker posted a robust quarterly performance.The S&P 500 advanced 0.40% to finish at 6,388.64, with the Nasdaq adding 0.24% to 21,108.32. The Dow Jones Industrial Average also gained 0.47%, ending the session at 44,901.92.
European Markets
European equities slipped on Friday as investors weighed mixed corporate earnings and awaited progress on an EU-U.S. trade agreement that officials suggested could be finalized as early as this weekend.
The pan-European STOXX 600 index fell 0.6% to session lows after U.S. President Donald Trump downplayed the likelihood of a deal, but later pared losses as EU diplomats reaffirmed that a framework involving 15% tariffs on European goods remained under negotiation.
Tech View
The Nifty remained under sustained selling pressure as the index slipped below the crucial support level of 24,900 and it has closed below the 50-day Exponential Moving Average (50EMA) for the first time in several sessions, signaling a meaningful weakening of the ongoing trend, said Rupak De, Senior Technical Analyst at LKP Securities.
“Additionally, the index has now fallen back into the zone of the previous swing high on the daily timeframe, which further highlights a potential trend reversal. The current setup appears notably weak and suggests the possibility of a deeper correction,” said De.
If the Nifty fails to reclaim levels above 24,900 in the next session or two, bulls could face significant short-term challenges, said Rupak De, adding that “on the downside, immediate support is seen at 24,700, followed by 24,500. On the upside, resistance is now placed around 25,000.”
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Most active stocks in terms of turnover
Indian Energy Exchange (Rs 4,314 crore), Bajaj Finance (Rs 2,226 crore), Infosys (Rs 1,653 crore), RIL (Rs 1,653 crore), Eternal (Rs 1,581 crore), ICICI Bank (Rs 1,288 crore) and Axis Bank (Rs 1,278 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
Indian Energy Exchange (Traded shares: 29.84 crore), Vodafone Idea (Traded shares: 29.80 crore), Trident Ltd (Traded shares: 14.39 crore), YES Bank (Traded shares: 7.69 crore), JP Power (Traded shares: 5.70 crore), Suzlon Energy (Traded shares: 5.51 crore) and Eternal (Traded shares: 5.09 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of Indian Energy Exchange, Phoenix Mills, Home First Finance, Gravita India, Syrma SGS Technology, Cipla and Torrent Pharma were among the stocks that witnessed strong buying interest from market participants.
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52 Week high
Over 111 stocks hit their 52 week highs today while 68 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included ICICI Bank.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Chennai Petroleum, Intellect Design, APL Apollo Tubes, Swan Energy, MRPL, Union Bank India and KFIN Technologies.
Sentiment meter bearish
The market sentiments were bearish. Out of the 4,154 stocks that traded on the BSE on Friday, 2,969 stocks witnessed declines, 1,061 saw advances, while 124 stocks 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)
