Mumbai — Indian equity markets ended lower Friday as investors reacted to the Monetary Policy Committee’s decision to keep the repo rate unchanged and continued to assess global economic uncertainties.
The benchmark Nifty declined 49.85 points, or 0.21%, to close at 23,366.70. The Sensex slipped 116.67 points, or 0.16%, to settle at 74,243.34.
Market analysts said the 23,450 to 23,550 range remains a key immediate resistance zone for the Nifty.
“A sustained breakout above this band could improve market sentiment and open the door for a recovery toward the 23,750–23,800 levels,” an analyst said.
“On the downside, the 23,250 area remains an important near-term support level. Sustaining above this zone will be crucial to preserve the current structure,” the analyst said.
Among individual stocks, Hindalco Industries, Wipro and Trent were the top losers on the Nifty.
Broader markets also closed weak. The Nifty Midcap index fell 0.35%, while the Nifty Smallcap index declined 0.06%.
Sectoral trends showed weakness in IT and metal stocks, while the media sector outperformed the broader market.
Market sentiment remained cautious after the Monetary Policy Committee unanimously kept the policy repo rate unchanged at 5.25%, maintaining a neutral stance amid rising global uncertainties.
The Reserve Bank of India also announced measures aimed at boosting foreign inflows into domestic financial markets. These include increasing investment limits in equities for nonresident Indians and Overseas Citizens of India, along with expanding the list of government securities under the Fully Accessible Route.
Experts said investors remained focused on policy signals and global cues, leading to a muted close for domestic equity markets.
“From a broader perspective, today’s market action suggests investors are interpreting the RBI policy as a balancing act between growth and macroeconomic stability,” a market expert said. (Source: IANS)
