The S&P BSE Sensex dropped 733.22 points, or 0.90%, to close at 80,426.46, while the NSE Nifty 50 shed 236.15 points, or 0.95%, ending at 24,654.70.
How analysts read the market pulse
The Indian market mirrored a selloff across Asian peers, with sentiment rattled by fresh tariffs targeting pharmaceuticals, dragging pharma stocks deep into the red, said Vinod Nair, Head of Research at Geojit Investments.
“Meanwhile, Accenture’s weaker guidance and job cuts highlighted slowing IT spending, with AI-driven growth failing to meet expectations, prompting a broad sell-off in tech shares. Investors remain cautious, with near-term focus on domestic investment and consumption amid global uncertainty,” Nair added.
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US markets
U.S. equities climbed on Friday as inflation data largely matched expectations, though all three major indexes logged weekly losses, snapping recent winning streaks for the S&P 500 and Nasdaq.
The Dow Jones Industrial Average rose 299.97 points, or 0.65%, to 46,247.29, while the S&P 500 added 38.98 points, or 0.59%, to 6,643.70. The Nasdaq Composite gained 99.37 points, or 0.44%, finishing at 22,484.07. For the week, the Dow slipped 0.2%, the S&P 500 fell 0.3%, and the Nasdaq lost 0.7%.
European markets
European shares recovered from a three-week trough on Friday, supported by strength in financial and industrial stocks, keeping the benchmark index flat for the week.
The pan-European STOXX 600 climbed 0.8% on the day, ending the week with a marginal gain of 0.07%.
Tech view
The Nifty has slipped below all key moving averages, with momentum indicators and oscillators triggering a sell crossover on the daily chart, said Nilesh Jain, Head of Technical and Derivatives Research at Centrum Broking. With the monthly F&O expiry approaching next week, elevated volatility is expected to persist.
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“Immediate support is placed at 24,500, followed by 24,350. On the upside, a decisive move above 24,900 is essential to reverse the current bearish setup. For the upcoming week, we expect the Nifty to trade in a broader range of 24,300 to 25,100. The index remains in a downtrend, consistently forming lower highs and lower lows. It has now retraced 78.6% of its previous rally from 24,404 to the recent peak of 25,448, bringing the 24,600 zone into focus,” Jain said.
Most active stocks (turnover)
Titan Company (Rs 2,510 crore), ICICI Bank (Rs 2,501 crore), L&T (Rs 2,196 crore), Netweb Technologies (Rs 2,089 crore), Tata Investment (Rs 1,851 crore), HDFC Bank (Rs 1,407 crore) and RIL (Rs 1,360 crore) were the most active on the BSE in value terms. High turnover often signals strong trading interest.
Most active stocks (volume)
Vodafone Idea (159.73 crore shares), YES Bank (8.55 crore), Adani Power (6.50 crore), Suzlon Energy (5.44 crore), Rites (3.74 crore), Eternal (2.68 crore) and Canara Bank (2.55 crore) were among the most actively traded stocks on the NSE by volume.
Stocks showing buying interest
Godrej Agrovet, Jupiter Wagons, Tata Investment, L&T, Netweb Technologies, HBL Power and Ipca Labs witnessed strong buying interest.
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52-week highs and lows
Over 132 stocks hit fresh 52-week highs, including Maruti Suzuki and Netweb Technologies, while 154 stocks slipped to 52-week lows.
Stocks under selling pressure
Wockhardt, Vodafone Idea, Laurus Labs, Intellect Design, Waaree Energies, Caplin Point and Techno Electric witnessed significant selling pressure.
Sentiment meter
Market sentiment was bearish. Out of the 4,280 stocks that traded on the BSE, 3,100 declined, 1,041 advanced, and 139 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)
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