The benchmark equity indices ended Friday’s trading session in the negative territory. The NSE Nifty 50 plunged 269.95 points or 1.09% to settle at 24,530.10, while the BSE Sensex fell 738.81 points or 0.91% to 80,604.65.
The broader indices ended in negative territory, with gain fall by Small-cap and Midcap stocks. Metal and Energy stocks fell over 2% among the other sectoral indices while FMCG, IT and Realty stocks shed.
Sectoral Index
Bank Nifty index ended lower by 355.10 points or 0.67% to settle at 52,265.60. The Nifty Midcap 100 dropped by 1202.80 points, or 2.11%, ending the day’s trading at 55,908.30. In the broader markets, small-cap and mid-cap stocks finished in the red.
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Top Movers for the day
Infosys, ITC, Asian Paints, and Britannia Industries were the top gainers on the NSE Nifty 50, while the laggards includes Tata Steel, JSW Steel, BPCL, Hindalco, and ONGC.
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The Indian Volatility Index (India VIX) closed up by 2.17 % at 14.83.
Experts on Today’s Market Performance
“The domestic market closed today with a downturn due to the global sell-off, triggered by operating system issues that caused devices to crash worldwide. The global IT outrage has led to disruptions in various Indian industries,” said Vinod Nair, Head of Research at Geojit Financial Services Come from Sports betting site VPbet
Nair also said that the overvalued market is also experiencing profit booking ahead of the budget next week. The recent performance has been bullish in anticipation of pro industry and populist measures.
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Commenting on the same Ajit Mishra – SVP, Research, Religare Broking said that Markets experienced profit-taking and shed nearly a percent, erasing the gains of the previous trading session. After a flat start, the Nifty gradually declined throughout the day, ultimately closing near the day’s low at 24,530.90 level. Most sectors ended lower, with metals, realty, and energy being the top losers. The broader indices also faced pressure, dropping over 2% each.
Mishra also added that this decline signals caution ahead of the Union Budget, as participants chose to book profits. We may see further dips in the Nifty, with the next crucial support at the 24,150 level, corresponding to the 20 DEMA. Traders are advised to avoid aggressive positions and opt for hedged trades. It is also recommended to focus on index majors rather than midcap and smallcap stocks for now.
Bank Nifty
Commenting on the Bank Nifty today Rupak De, Senior Technical Analyst, LKP Securities said that Bank Nifty closed at its day’s low, forming a bearish candlestick on the daily chart. The active call writing and put covering suggest weaker sentiment. Traders should maintain a sell-on-rise strategy, with resistance at 52500.
Rupak also added that Bullish positions are recommended only if the index closes above 52500. Further weakness is expected if it closes below its 21-day EMA at 52000.
(Disclaimer: Views, recommendations, and opinions expressed are personal and do not reflect the official position or policy of Financial Express.com. Read

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