Stock Market Ends Lower Amid Sectoral Weakness; Sensex Sheds 182 Points, Nifty Below 24,800

Indian equity benchmarks closed in the red on Friday, ending the week with mild losses as weakness in metal and IT stocks weighed on sentiment. The Sensex declined by 182.01 points or 0.22 per cent to settle at 81,451.01, while the Nifty slipped 82.9 points or 0.33 per cent to finish at 24,750.70.

Broader markets saw limited movement, with the Nifty Midcap 100 easing 37.25 points to 57,420.00, and the Nifty Smallcap 100 edging down by 6.10 points to 17,883.30, reflecting a largely flat performance.

Among sectoral indices, metals and information technology were the biggest drags. The Nifty Metal index tumbled 1.69 per cent, while the Nifty IT index lost 1.15 per cent. Other sectors such as auto, pharmaceuticals, and FMCG also closed in negative territory. On the upside, PSU banks, financial services, and media stocks managed to end in the green.

June Derivatives Series

Friday marked the beginning of the June derivatives series, and the Nifty remained volatile with a slight downward bias. Analysts observed technical signs pointing to near-term weakness.

“The RSI on the hourly chart indicates bearish price momentum, suggesting short-term weakness. Additionally, signs of exhaustion are visible on the daily RSI, accompanied by a strong negative divergence,” said Rupak De, Senior Technical Analyst at LKP Securities.

He added that the index is facing stiff resistance at the 24,800 level, where significant call writing activity has been observed. On the downside, a breach of the immediate support at 24,700 could open the door to a deeper correction towards 24,500.

The market remained range-bound, with traders cautious amid macroeconomic uncertainties and renewed U.S. tariff tensions. The recent court decision to temporarily reinstate certain US tariffs influenced global sentiment and led to risk-off positioning.

Vinod Nair, Head of Research at Geojit Financial Services, said, “The global market may contend with macroeconomic concerns as the global trade landscape has yet to see stability, which may navigate a short-term consolidation. Meanwhile, FII inflows continued due to the volatility in the US 10-year yield and an expectation of solid domestic Q4 GDP data later today and a rate cut by RBI.”

Meanwhile, the rupee weakened by 8 paise to close at 85.52 against the US dollar, as the greenback firmed up with the dollar index rising 0.25 per cent to 99.46.

Investors are now looking ahead to further domestic economic data and global cues to gauge market direction in the coming sessions.

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