Mumbai— Indian equity benchmarks ended lower on Friday as investors booked profits following recent gains, capping the week on a cautious note.
Both the Sensex and the Nifty closed in the red during the final trading session of the week. The Sensex declined by 200.15 points, or 0.24%, to settle at 82,330.59. During the session, the index fluctuated between an intraday high of 82,514.81 and a low of 82,146.95.
The Nifty also edged lower, slipping 42.30 points, or 0.17%, to close at 25,019.80. After Thursday’s strong rally, the index traded in a consolidation phase, taking a breather as market participants reassessed their positions.
“Technical indicators continue to suggest underlying strength in the near term,” said Rupak De, Senior Technical Analyst at LKP Securities. “Any pullbacks are likely to attract buying interest, with key support seen at 25,000 and 24,800. A move above 25,120 could open the door to higher levels around 25,250 or even 25,350.”
Despite the declines in headline indices, the broader market showed resilience. Small-cap and mid-cap stocks outperformed, with the Nifty Smallcap100 climbing 1.86% and the Nifty Midcap100 rising 0.94%.
Among the top gainers on the Sensex were Eternal (formerly Zomato), Hindustan Unilever, Asian Paints, ITC, and IndusInd Bank, with gains ranging from 0.60% to 1.20%.
On the other hand, Bharti Airtel, HCL Technologies, State Bank of India, Infosys, and Tech Mahindra were the biggest losers, declining between 0.79% and 2.76%.
Sectorally, performance was mixed. Indices for IT, metals, pharmaceuticals, and healthcare ended in negative territory on the NSE, with losses of up to 0.84%. Conversely, real estate stocks outshined, with the Nifty Realty index rising 1.6% to lead the sectoral gains.
Market volatility, as measured by the India VIX — often referred to as the “fear index” — dropped by 2.02% to close at 16.55, signaling a slight dip in investor anxiety.
Analysts noted that the cautious sentiment reflected a desire among investors to lock in gains after a strong rally in recent sessions.
Meanwhile, the Indian rupee appreciated marginally against the U.S. dollar, ending at 85.51 on Friday compared to Thursday’s closing of 85.54.
“Looking ahead, the USD-INR spot rate is expected to find support near 84.90 and face resistance around 85.94,” said Dilip Parmar, a currency strategist at HDFC Securities.
As the markets head into the next week, all eyes will be on macroeconomic indicators and global cues that could set the tone for further movement. (Source: IANS)
