The S&P BSE Sensex slipped 7.25 points, or 0.01%, to close at 80,710.76. The NSE Nifty 50 edged up 6.70 points, or 0.03%, to settle at 24,741.
Here’s how analysts read the market pulse:
Indian equities ended flat today, but sentiment stayed mildly positive as key indices rebounded from intraday lows on buying at support levels, said Vinod Nair, Head of Research at Geojit Investments, adding that the auto sector continued to extend gains on expectations of a demand revival.
“Broader markets outperformed, with strong mid- and small-cap participation as domestic investors rotated into value and growth opportunities beyond large caps. Global cues also lent support, with U.S. and Asian markets trading higher ahead of the U.S. jobs report, a key trigger for Fed rate cut expectations. In the near term, markets are likely to remain range-bound, with a buy-on-dips, sell-on-rallies strategy guiding investor behaviour,” said Nair.
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The Dow Jones Industrial Average fell 239.72 points, or 0.53%, to close at 45,381.03. The S&P 500 dropped 31.30 points, or 0.49%, to 6,470.30, while the Nasdaq Composite edged lower by 53.41 points, or 0.25%, finishing at 21,652.83.
European Markets
European equities gave up early gains on Friday, with energy and financial shares leading losses, as investors grew cautious following weaker-than-expected U.S. payrolls data that stoked concerns about the global economy.
The pan-European STOXX 600 closed 0.16% lower at 541.21. Energy stocks were the biggest drag, falling 1.8% as oil prices slipped amid rising expectations of increased supply.
Tech View
The Nifty managed to close above its 21-DMA, currently placed around 24,700 but the recent momentum faced resistance near the 50-DMA at 24980, which also aligns with the upper boundary of a symmetrical triangle pattern on the index, said Nilesh Jain, Head of Technical and Derivatives Research Analyst at Centrum Broking, adding that for a fresh leg of the uptrend, a decisive breakout above 25,000 is essential.
“A successful move above this level could open the gates for a rally towards 25,300, and eventually 25,500. On the downside, immediate support lies at the recent swing low of 24,520. Overall, Nifty is expected to consolidate within the broader range of 24,400–25,000 in the coming week,” said Jain.
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Most active stocks in terms of turnover
Ola Electric Mobility (Rs 2,904 crore), Netweb Technologies (Rs 2,852 crore), BSE (Rs 1,843 crore), Gujarat Mineral Development (Rs 1,724 crore), Mahindra & Mahindra (Rs 1,315 crore), Vodafone Idea (Rs 1,217 crore) and Brainbees Solutions (Rs 1,216 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 171.94 crore), Ola Electric Mobility (Traded shares: 47.53 crore), YES Bank (Traded shares: 9.13 crore), JP Power (Traded shares: 6.44 crore), Suzlon Energy (Traded shares: 3.69 crore), RattanIndia Enterprises (Traded shares: 3.64 crore) and Gujarat Mineral Development (Traded shares: 3.44 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of Netweb Technologies, Brainbees Solutions, Gujarat Mineral Development, Vodafone Idea, SKF India, Godfrey Philips and RattanIndia Enterprises were among the stocks that witnessed strong buying interest from market participants.
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52 Week high
Over 135 stocks hit their 52 week highs today while 64 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Mahindra & Mahindra and Eternal.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were ITC, HCL Tech, TCS, Tech Mahindra, Infosys, HUL and Larsen & Toubro.
Sentiment meter neutral
The market sentiments were neutral. Out of the 4,260 stocks that traded on the BSE on Friday, 1,957 stocks witnessed declines, 2,134 saw advances, while 169 stocks 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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