Meanwhile, the volatility gauge India VIX ended at 22.65, up 5.23% from the last closing.
Here’s how analysts read the market pulse:
Rupak De, Senior Technical Analyst at LKP Securities said the index continued to deviate further away from the 200DMA as the selling intensified. The RSI has entered the oversold zone and the broader trend remains weak, leading to further fall while keeping the RSI in a deep oversold zone. “In the short term, the trend might continue to remain weak, with any rise being sold into. On the lower end, the index might fall towards 23,000/22,800, while on the higher end resistance is placed at 23,400,” De said.
US markets
The S&P 500 fell on Friday as investors awaited developments in the Iran conflict, while oil prices extended their gains.
The broad-based index dropped 0.61%, closing at 6,632.19, about 5% below its recent high. The Nasdaq Composite slid 0.93% to 22,105.36, and the Dow Jones Industrial Average lost 119.38 points (0.26%), settling at 46,558.47.
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European Markets
European stocks fell on Friday as investors grappled with the ongoing Middle East conflict and its potential impact on economic growth.
The pan-European Stoxx 600 provisionally closed 0.5% lower, with most major regional bourses in negative territory, while sector performance remained mixed.
Tech View
Ajit Mishra, Senior Vice President, Research at Religare Broking, said the Nifty has failed to defend its recent support levels despite being in an oversold zone, largely due to intense pressure in rate-sensitive sectors.
“Among the key sectors, the performance of the banking index will be crucial to monitor, as it has tested its important support near the neckline of its previous consolidation zone around 53,500. It will be important to see whether it manages to hold this level going forward,” he added.
Given the prevailing uncertainty and heightened volatility, Mishra warned that any recovery towards the 23,500–23,800 zone is likely to face stiff resistance. He advised participants to maintain a cautious stance, keep position sizes light, and focus on strict risk management while adopting a selective trading approach.
Most active stocks in value terms
Larsen & Toubro (L&T, Rs 455), Zydus (Rs 255 crore), Adani Total Gas (ATGL, Rs 234 crore), Mahindra & Mahindra (M&M, Rs 221 crore), Reliance Industries (RIL, Rs 189 crore), Max Healthcare Institute (Rs 116 crore), and HDFC Bank (Rs 98 crore) were among the most active stocks on the BSE in value terms. Higher activity in value terms can help identify counters with the highest trading turnover for the day.
Most active stocks in volume terms
SpiceJet (2.37 crore shares), NTPC Green (96.62 lakh shares), YES Bank (87.42 lakh shares), IFCI (87.16 lakh shares), Altius Telecom Infrastructure (84 lakh shares), Suzlon Energy (75.30 lakh shares), and Steel Authority of India (SAIL, 61.07 lakh shares) were among the most actively traded stocks in volume terms on the BSE.
Stocks showing buying interest
IFCI, L&T Technology Services (LTTS), Acme Solar Holdings, ICDS, Sumit Woods, Centrum Capital, and DCM Financial Services witnessed strong buying interest from market participants.
52‑Week Highs and Lows
On Friday, 55 stocks hit their 52-week highs, while 563 stocks slipped to 52-week lows. Stocks hitting new highs included Aayush Art And Bullion, ABB India, Ajanta Pharma, Coal India, Great Eastern Shipping Company, NTPC, and Torrent Pharmaceuticals.
Stocks seeing selling pressure
Among large-cap names, Mahindra & Mahindra (M&M), Eicher Motors, and Maruti Suzuki faced selling pressure. Other stocks seeing significant declines included National Aluminium, Hindustan Copper, Bharat Forge, ATGL, Hindustan Petroleum Corporation (HPCL), Precision Wires India, and Super Spinning Mills.
Sentiment meter favours bears
Heavyweights like L&T, HDFC Bank, and State Bank of India (SBI) dragged markets lower, with overall breadth remaining negative. Out of 4,421 stocks that traded on the BSE on Friday, 858 advanced, 3,439 declined, and 124 remained unchanged.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
