Sensex fell over 300 points to 77,762 while Nifty 50 fell 68 points to 24,328 on Friday. Broader markets remained muted, with Nifty Midcap 100 and Nifty Smallcap 100 recording marginal gains and losses.
UltraTech Cement and Tata Steel shares dropped more than 1% each to lead losses on Sensex, while IndiGo, Trent, Asian Paints, Power Grid, Axis Bank, NTPC, HCLTech, M&M, ITC, Maruti Suzuki and others fell around 1% each to follow. Bucking the trend, Bajaj Finance, Eternal and Titan shares were trading in the green with marginal gains.
Among the sectors, Nifty Metal fell over 0.6%, while Nifty Auto dropped 0.4%. The overall market breadth however was positive, with NSE seeing 1,364 advances against 1,126 declines, while 107 stocks remained unchanged.
What lies ahead for Dalal Street?
Technical view on Nifty
Nifty’s hammer formations in the last two days after 20 DMA stepped in to arrest downside attempts, point to bargain hunting, despite the lack of risk appetite to chase prices higher, said Anand James, Chief Market Strategist, Geojit Investments. He added that oscillators continue to stay accommodative towards an upside move, aiming 24,540-24,666 initially, followed by 24,850-25,100.
“But, given the last two days’ swings, it is essential to keep the downside marker near 24,329-24,240,” the analyst said, explaining the technical charts.
(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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(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price