The BSE Sensex declined 749.08 points or 0.96% to 76,515.43, while the Nifty 50 fell 277.95 points or 1.14% to 23,897.70 during the week. According to Moneycontrol, the total market capitalisation of BSE-listed companies declined by ₹4.5 lakh crore during the week. The Nifty Midcap 100 index fell 1.5%, dragged lower by KEI Industries, Polycab India, Havells India, KPIT Technologies, ICICI Prudential Asset Management Company, Hero MotoCorp, National Aluminium Company, 360 ONE WAM, Laurus Labs, Hitachi Energy India and Tube Investments of India. However, Nifty Smallcap 100 index touched a fresh high of 20,187.80 before ending largely flat, with IFCI, Welspun Corp, Capri Global Capital, RBL Bank, Brigade Enterprises, Urban Company and Indraprastha Gas among the major gainers. Foreign institutional investors (FIIs) extended their selling for the third consecutive week, offloading equities worth ₹5,611.94 crore, while domestic institutional investors (DIIs) continued to provide strong support, investing ₹23,156.38 crore in equities over the week.
The SENSEX ended 362.57 points or 0.48% higher at 76,515.43, while the NIFTY50 settled 24.25 points or 0.10% up at 23,897.70 on Friday. During the session, the S&P BSE SENSEX jumped as much as 0.95% or 730 points to hit an intraday high of 76,883.14 and a low of 76,515.43. The NSE's NIFTY50 recorded an intraday high of 24,005.75, an increase of 0.55% or 132 points from the previous close and touched an intraday low of 23,895.85. According to Zee News, domestic equity benchmarks ended higher as easing concerns over an imminent US Federal Reserve rate hike supported market sentiment, while profit-taking at higher levels and persistent geopolitical tensions capped gains. Domestically, stock- and sector-specific buying remained evident across the broader market, with small-cap indices touching fresh intraday lifetime highs.
Nifty Metal emerged as the top sectoral gainer, rising more than 1%, followed by financial services ex-bank shares. The NIFTY50 index was supported by gains in SBI Life Insurance Company, Reliance Industries (RIL), HDFC Life Insurance Company, Adani Enterprises and Wipro, which were among the top winners. As reported by The Hindu BusinessLine, SBI Life Insurance was the top Nifty gainer, rising 2.26% to ₹1,753.80, while Reliance Industries advanced 1.99% to ₹1,328.40 and HDFC Life Insurance gained 1.78% to ₹543. Adani Enterprises climbed 1.47% to ₹2,943.60 and Wipro added 1.24% to ₹177.90. Finance emerged as the best-performing sectoral index, with insurance and energy heavyweights leading the charge. However, sectoral indices ended on a negative note, with Nifty Auto index slipping 4%, Nifty Consumer Durables down 2.6%, Nifty Media, Nifty Healthcare, Nifty FMCG shedding 2% each, while Nifty Oil & Gas added 1%.
According to Zee News, domestically, stock- and sector-specific buying remained evident across the broader market, with small-cap indices touching fresh intraday lifetime highs. On the BSE, 2,356 stocks were advancing against 1,316 declining, with 146 stocks hitting 52-week highs and 65 touching 52-week lows. A total of 155 stocks were locked in upper circuit and 140 in lower circuit. Nifty IT index fell 0.47%, while Nifty Pharma and Nifty Healthcare declined 0.68% and 0.87%, respectively. Nifty's Advance-Decline ratio stood at 33:17, indicating strong market breadth. The India VIX -- a measure of market volatility -- fell 6.24% to 10.63, reflecting reduced market uncertainty.
Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, noted that "Reliance Industries and HDFC Bank are providing key support and currently remain the top contributors to the Nifty." Shah flagged that "the zone of 23,860–23,840 will act as a crucial support for the index while the resistance lies in the zone of 24,030–24,050." On the options front, meaningful call writing was observed at the 24,000 and 24,100 strikes, while the 23,900 put has substantial open interest, followed by the 23,800 strike. On the Sensex, support is placed at 76,400 and resistance at 77,200. Amol Athawale, VP Technical Research at Kotak Securities, noted that "the short-term market trend still appears weak, but if the market manages to trade above the 24,000/76800 mark, a pullback formation is likely to continue in the near future." He expects further upside could push the index to 24,350/77800, while below 23,800/76100, selling pressure is likely to accelerate. Rupak De, Senior Technical Analyst at LKP Securities, highlighted that "the short-term trend is likely to remain weak as Nifty continues to trade below the 50-EMA on the hourly chart." He noted that "a sell-on-rise sentiment may continue to prevail as long as the index remains below the 24,000–24,200 zone."
The Indian rupee traded higher at 94.48, up 0.09%, supported by fresh FCNR deposit inflows, which are improving dollar liquidity. Gold was trading at $4,468 per ounce, up 0.6%, holding near record highs, while MCX Gold was down 0.50% near ₹1,55,000 per 10 grams, pressured by a firmer rupee. Silver was weaker, with COMEX Silver down 0.64% at $66.8 per ounce and MCX Silver down 0.61%, holding above ₹2,40,000 per kilogram. WTI crude was up 0.46% at $91.85 per barrel, with MCX Crude Oil gaining 0.58%, underpinned by the ongoing U.S.-Iran standoff over the Strait of Hormuz. The market continues to face headwinds from geopolitical uncertainty and crude oil prices holding at elevated levels.
