Friday’s market open painted a cautious picture for Indian investors, as weak global signals triggered by West Asian unrest led to a downturn. BSE Sensex opened 0.45% lower at 79,658.99, down 356.91 points from Thursday’s close. NSE Nifty mirrored the sentiment, starting 0.44% down at 24,656.40. By 9:30 AM, Sensex traded at 79,699.81 (-316.09 points, 0.40%) and Nifty at 24,679.30 (-86.60 points, 0.35%).
Smaller stocks bucked the trend, with midcaps up 0.48% and smallcaps rising 0.64%. IT sector stole the show, up 1.23%, while auto, FMCG, and bank indices posted losses of 0.60%, 0.02%, and 0.85% respectively. Recapping Thursday: markets had rallied sharply, with Sensex gaining 899.71 points (1.14%) and Nifty 285.40 points (1.17%).
Akash Shah of Choice Broking shared insights: Nifty support at 24,500-24,550, resistance at 24,850. RSI’s climb to 37.55 from oversold levels signals slow healing. FII outflows hit Rs 3,752 crore (fifth day), cushioned by DII inflows exceeding Rs 5,000 crore (seventh day).
Amid heightened volatility, experts advocate restraint. Prioritize stocks with solid fundamentals in dips. Investors should eye a robust Nifty breakout over 25,000 for new positions, as it could confirm a bullish phase and steady recovery.