The Indian stock market fell for a second straight session on Friday, with the benchmark indices ending with weekly declines of 1.4% amid growing tension between India and Pakistan.
On Friday, the benchmark BSE Sensex declined 880.34 points or 1.10% to close at 79,454.47, while the broader Nifty 50 index closed at 24,008, lower by 265.80 points or 1.10%.
Here's how analysts read the market pulse:
“A conflict was anticipated but the market was not expecting the situation to intensify, raising concerns about its duration," said Vinod Nair, Head of Research, Geojit Investments, adding that, however, it is still projected to be a short-lived confrontation, given the strategic advantage and the opponent’s weak economic standing.
“Interestingly, Foreign Institutional Investors (FIIs) continued to invest in the Indian market until yesterday, while retail investors remain slightly cautious at the moment," said Nair.
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US markets
U.S. stocks closed out the week on a subdued note Friday, fluctuating between modest gains and losses as investors weighed President Donald Trump's remarks on Chinese tariffs ahead of scheduled weekend trade talks. Wall Street’s major indexes ended the week slightly lower.
The Dow Jones Industrial Average slipped 119.07 points, or 0.29%, to 41,249.38. The S&P 500 edged down 4.03 points, or 0.07%, to 5,659.91, while the Nasdaq Composite was little changed, inching up 0.78 points to finish at 17,928.92.
European Markets
European shares advanced further on Friday, with Germany’s DAX index hitting a record high, as easing concerns over the global trade war lifted investor sentiment ahead of weekend talks between the U.S. and China.
The pan-European STOXX 600 index rose 0.4%, while Frankfurt’s DAX gained 0.6%, finishing the week with a 1.7% increase.
Tech View
The Nifty traders appeared to embrace risk-off trades amid India-Pakistan tensions, as the index fell from its recent consolidation zone, said Rupak De, Senior Technical Analyst at LKP Securities, adding that the Nifty managed to stay above the 24,000 mark as the index found support around the 21-day exponential moving average (EMA).
“In the short term, bears may attempt to push the index decisively below 24,000 to gain the upper hand. A clear break below 23,900 could increase bearish bets in the market. On the upside, 24,250 may act as an immediate resistance level, above which sentiment could improve," said De.
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Most active stocks in terms of turnover
Mazagon Dock Shipbuilders (Rs 2,834 crore), Tata Motors (Rs 2,818 crore), BSE (Rs 2,305 crore), Bharat Dynamics (Rs 1,989 crore), L&T (Rs 1,939 crore), Reliance Industries Ltd (Rs 1,890 crore) and ICICI Bank (Rs 1,881 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
YES Bank (Traded shares: 72.80 crore), Vodafone Idea (Traded shares: 44.69 crore), Suzlon Energy (Traded shares: 6.85 crore), Union Bank India (Traded shares: 6.29 crore), Welspun India (Traded shares: 4.94 crore), Reliance Power (Traded shares: 4.65 crore) and BEL (Traded shares: 4.42 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of KPR Mill, YES Bank, Welspun India, Craftsman Automation, Union Bank India, Cera Sanitary and Bharat Dynamics were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 52 stocks hit their 52 week highs today while 190 stocks slipped to their 52-week lows.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Sonata Software, Cholamandalam Financial Holdings, MCX India, Poly Medicure, Raymond, Jyoti CNC Automation and Indian Hotels.
Sentiment meter bearish
The market sentiments were bearish. Out of the 4,010 stocks that traded on the BSE on Friday, 2,656 stocks witnessed declines, 1,222 saw advances, while 132 stocks remained unchanged.
Also read | Which companies have large exposure to Pakistan bordering states? CLSA analyses retaliation risk
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
On Friday, the benchmark BSE Sensex declined 880.34 points or 1.10% to close at 79,454.47, while the broader Nifty 50 index closed at 24,008, lower by 265.80 points or 1.10%.
Here's how analysts read the market pulse:
“A conflict was anticipated but the market was not expecting the situation to intensify, raising concerns about its duration," said Vinod Nair, Head of Research, Geojit Investments, adding that, however, it is still projected to be a short-lived confrontation, given the strategic advantage and the opponent’s weak economic standing.
“Interestingly, Foreign Institutional Investors (FIIs) continued to invest in the Indian market until yesterday, while retail investors remain slightly cautious at the moment," said Nair.
Also read | 5 Wall Street moguls who dismissed Bitcoin as a fad — Guess what they’re saying now!
US markets
U.S. stocks closed out the week on a subdued note Friday, fluctuating between modest gains and losses as investors weighed President Donald Trump's remarks on Chinese tariffs ahead of scheduled weekend trade talks. Wall Street’s major indexes ended the week slightly lower.
The Dow Jones Industrial Average slipped 119.07 points, or 0.29%, to 41,249.38. The S&P 500 edged down 4.03 points, or 0.07%, to 5,659.91, while the Nasdaq Composite was little changed, inching up 0.78 points to finish at 17,928.92.
European Markets
European shares advanced further on Friday, with Germany’s DAX index hitting a record high, as easing concerns over the global trade war lifted investor sentiment ahead of weekend talks between the U.S. and China.
The pan-European STOXX 600 index rose 0.4%, while Frankfurt’s DAX gained 0.6%, finishing the week with a 1.7% increase.
Tech View
The Nifty traders appeared to embrace risk-off trades amid India-Pakistan tensions, as the index fell from its recent consolidation zone, said Rupak De, Senior Technical Analyst at LKP Securities, adding that the Nifty managed to stay above the 24,000 mark as the index found support around the 21-day exponential moving average (EMA).
“In the short term, bears may attempt to push the index decisively below 24,000 to gain the upper hand. A clear break below 23,900 could increase bearish bets in the market. On the upside, 24,250 may act as an immediate resistance level, above which sentiment could improve," said De.
Also read | Warren Buffett’s biggest investment isn’t Apple, BofA or Coca-Cola — it’s a stock hidden in plain sight
Most active stocks in terms of turnover
Mazagon Dock Shipbuilders (Rs 2,834 crore), Tata Motors (Rs 2,818 crore), BSE (Rs 2,305 crore), Bharat Dynamics (Rs 1,989 crore), L&T (Rs 1,939 crore), Reliance Industries Ltd (Rs 1,890 crore) and ICICI Bank (Rs 1,881 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
YES Bank (Traded shares: 72.80 crore), Vodafone Idea (Traded shares: 44.69 crore), Suzlon Energy (Traded shares: 6.85 crore), Union Bank India (Traded shares: 6.29 crore), Welspun India (Traded shares: 4.94 crore), Reliance Power (Traded shares: 4.65 crore) and BEL (Traded shares: 4.42 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of KPR Mill, YES Bank, Welspun India, Craftsman Automation, Union Bank India, Cera Sanitary and Bharat Dynamics were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 52 stocks hit their 52 week highs today while 190 stocks slipped to their 52-week lows.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Sonata Software, Cholamandalam Financial Holdings, MCX India, Poly Medicure, Raymond, Jyoti CNC Automation and Indian Hotels.
Sentiment meter bearish
The market sentiments were bearish. Out of the 4,010 stocks that traded on the BSE on Friday, 2,656 stocks witnessed declines, 1,222 saw advances, while 132 stocks remained unchanged.
Also read | Which companies have large exposure to Pakistan bordering states? CLSA analyses retaliation risk
(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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