Mumbai: Indian equity benchmarks extended their losing streak for the fourth consecutive session on Friday as rising geopolitical tensions weighed on investor sentiment and prompted a risk-off mood across the market.
The Sensex ended 125.56 points, or 0.17 per cent, lower at 73,123.83, while the Nifty declined 87.65 points, or 0.39 per cent, to close at 22,600.00.
Commenting on Nifty technical outlook, experts said that the recovery from the intra-day low indicates demand around 22,400–22,500, but the close at 22,600 remains fragile.
“Holding 22,500 could trigger a mean-reversion rebound toward 22,800–22,900, but a break below it may expose 22,300 and 22,200. Only a sustained close above 22,900 would indicate that the current decline is beginning to stabilise,” analysts stated.
Selling pressure was visible across broader markets, with mid- and small-cap stocks witnessing sharper declines than the frontline indices.
The Nifty MidCap 100 index fell 2.21 per cent, while the Nifty SmallCap 100 index dropped 2.94 per cent.
Among the Nifty constituents, Shriram Finance and JSW Steel emerged as the top laggards, dragging the benchmark lower. Weakness in metal and financial stocks also contributed to the market’s subdued performance.
On the sectoral front, metal, realty and public sector banking stocks bore the brunt of the sell-off. The Nifty Metal, Nifty Realty and Nifty PSU Bank indices ended among the worst performers of the day as investors pared exposure to economically sensitive sectors.
In contrast, the information technology pack displayed relative resilience. The Nifty IT index outperformed other sectoral gauges by registering the least losses, providing some support to the broader market.
Experts said that market participants remained cautious throughout the session as geopolitical concerns dampened risk appetite, overshadowing stock-specific developments and keeping investors on the sidelines.
“Going forward, inflation trends and the response of major central banks in balancing inflation and growth will be critical to market direction. In this environment, we expect stock- and sector-specific opportunities to dominate, with earnings visibility and valuation comfort emerging as the key differentiators,” analysts noted.
–IANS–
