Weak international signals triggered by heightened West Asian conflicts sent Indian benchmarks into the red at Friday’s market open. BSE Sensex debuted at 79,658.99, down 356.91 points (0.45%) from Thursday’s 80,015.90 close. NSE Nifty opened at 24,656.40, slipping 109.50 points (0.44%) from 24,765.90.
Around 9:30 AM, Sensex stood at 79,699.81 (-0.40%, 316.09 points), and Nifty at 24,679.30 (-0.35%, 86.60 points). Broader markets bucked the trend: Nifty Midcap 100 +0.48%, Smallcap 100 +0.64%.
Nifty IT led sectoral advances with 1.23% gains, offsetting declines in Auto (-0.60%), Bank (-0.85%), and FMCG (-0.02%). The previous day had seen a welcome upturn, with Sensex +899.71 points (1.14%) and Nifty +285.40 points (1.17%).
Per Choice Broking analyst Akash Shah, Nifty support holds at 24,500-24,550, resistance at 24,850. RSI at 37.55 signals slow rebound from oversold.
FII selling extended to five sessions (Rs 3,752 crore), offset by DII buying streak (7 days, >Rs 5,000 crore).
Experts advocate disciplined approach amid uncertainties: prioritize robust fundamentals, defer aggressive buys until Nifty clears 25,000 convincingly for bullish momentum.