Indian share markets dawned in negative territory Friday, pressured by feeble international cues due to mounting West Asian conflicts. BSE Sensex opened 0.45% lower at 79,658.99, a 356.91-point drop from 80,015.90. NSE Nifty followed suit, starting 0.44% down at 24,656.40 after losing 109.50 points from 24,765.90.
Around 9:30 AM, Sensex traded at 79,699.81 (-316.09 points or 0.40%), and Nifty at 24,679.30 (-86.60 points or 0.35%). Broader indices bucked the trend: Nifty Midcap 100 gained 0.48%, Nifty Smallcap 100 rose 0.64%.
Among sectors, IT led with a 1.23% jump in Nifty IT. Autos slipped 0.60%, FMCG 0.02%, and banks 0.85%. Recapping Thursday: Markets had recovered sharply, ending a four-day slump. Sensex rose 899.71 points (1.14%) to 80,015.90; Nifty added 285.40 points (1.17%) to 24,765.90.
Akash Shah, Choice Broking technical analyst, identifies Nifty support at 24,500-24,550 and resistance at 24,850. RSI at 37.55 shows signs of recovery from oversold levels.
Investor activity revealed FIIs selling Rs 3,752 crore for the fifth day running, offset by DIIs’ Rs 5,000+ crore buys over seven sessions.
With uncertainties abroad fueling volatility, experts advise restraint. Prioritize fundamentally sound stocks in downturns. Optimal entry for new buys awaits a firm Nifty breakout over 25,000, potentially ushering in lasting upward momentum.