The S&P BSE Sensex fell 0.1% to 83,216.28, recovering from a drop of more than 600 points earlier in the session, while the NSE Nifty 50 slipped 0.07% to 25,492.30 after rebounding from losses of nearly 0.7% earlier in the day.
Here’s how analysts read the market pulse:
Domestic equities rebounded from early losses as buying emerged at key support levels, though it may be premature to call this a trend reversal amid mixed earnings, cautious global cues, and persistent FII outflows, said Vinod Nair, Head of Research at Geojit Investments, adding that “select segments found support from Q2 results, with broader indices outperforming, led by a sharp rally in financials—especially PSU banks on account of rising investor interest driven by speculation around an FDI cap hike and sector consolidation.”
Going forward, markets will closely monitor U.S. shutdown and tariff-related developments with U.S.-India and US-China deals to assess the durability of the current momentum, said Nair.
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US markets
The Nasdaq slipped on Friday while the S&P 500 and Dow Jones Industrial Average managed to notch late-session gains, capping a volatile week marked by mounting economic concerns, record-high tech valuations, and the longest federal government shutdown in U.S. history.All three major indexes spent much of the session deep in the red before clawing back losses, with the S&P 500 and Dow turning positive after reports of progress in Congress toward ending the historic impasse.The Dow rose 74.80 points, or 0.16%, to 46,987.10, the S&P 500 added 8.48 points, or 0.13%, to 6,728.80, while the Nasdaq Composite fell 49.45 points, or 0.21%, to 23,004.54.
European Markets
European stocks closed lower on Friday, wrapping up a choppy week as persistent concerns over lofty valuations in technology shares kept investors on edge, even as Britain’s ITV surged on reports it may sell its broadcasting arm.
The pan-European STOXX 600 slipped 0.6% to 564.79, marking its steepest two-week decline since early September, when renewed worries over sovereign debt and political instability in France rattled markets.
Tech View
Lately, the Nifty has been trading below the 50 EMA, indicating near-term weakness, said Rupak De, Senior Technical Analyst at LKP Securities, adding looking at the broader backdrop, the index has been declining since forming a double top around 26,100 on the hourly time frame.
“Recently, the index slipped below a critical moving average, setting a deeper bearish tone. The crucial resistance is placed at 25,600; as long as it remains below this level, sentiment may continue to favor a sell-on-rise strategy. On the lower end, support is placed at 25,400, and a fall below this level might further boost the bears’ morale,” said De.
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Most active stocks in terms of turnover
Bharti Airtel (Rs 14,259 crore), BSE (Rs 5,312 crore), Amber Enterprises (Rs 2,210 crore), L&T Finance (Rs 2,095 crore), Netweb Technologies (Rs 1,825 crore), HDFC Bank (Rs 1,470 crore) and Infosys (Rs 1,286 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: 107.54 crore), Suzlon Energy (Traded shares: 12.28 crore), YES Bank (Traded shares: 8.40 crore), L&T Finance (Traded shares: 7.05 crore), Bharti Airtel (Traded shares: 7.03 crore), Sagility India (Traded shares: 5.44 crore) and Reliance Power (Traded shares: 4.78 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of L&T Finance, BSE, Swan Energy, Gujarat Mineral Development, CCL Products, Angel One and KFIN Technologies were among the stocks that witnessed strong buying interest from market participants.
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52 Week high
Over 124 stocks hit their 52 week highs today while 173 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Shriram Finance, L&T Finance and Bank of India.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Amber Enterprises, Latent View Analytics, eClerx Services, Sai Life Science, Reliance Infrastructure, Devyani International and Kirloskar Brothers.
Sentiment meter neutral
The market sentiments were neutral. Out of the 4,315 stocks that traded on the BSE on Friday, 2,157 stocks witnessed declines, 2,016 saw advances, while 142 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)