Indian stock markets continued their downward spiral on Friday, with Sensex and Nifty lowering in eight consecutive sessions, the longest winning streak in two years. Benchmark Sensex closed 199.76 points or 0.26 percent at 75,939.21, while the Nifty 50 fell to 102.15 points or 0.44 percent to finish at 22,929.25.
“The market has declined in eight consecutive sessions, marking the longest winning streak in two years. This is a potential tariff on sustained foreign institutional outflows from the US and retaliation tariffs from the US. It was driven by growing concerns about the company.”
The broader markets saw even more severe losses, with Nifty Midcap falling 269.85 points or 2.38% to 11,090.05, with the next 50 falling to 1,389.80 points or 2.28% to 59,557.95. Bank stocks also faced pressure, with the nifty bank index falling 260.40 points or 0.53% to 49,099.45.
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Read again: Rupee Rise 12 Paise closes against US dollars at 86.81
The market width remained overwhelmingly negative, with 3,320 shares down against just 681 advances in BSE, while 82 remained unchanged. Notably, 641 stocks reached a 52-week low, but only 47 reached a 52-week high, highlighting the depth of the ongoing revision.
Defense stocks show relative resilience, with NSE top gains being Britannia (+0.95 per cent), ICICI Bank (+0.81 per cent), Nestleland India (+0.76 per cent), Infosys (+0.53 per cent), and HCL Tech . (+0.50%). Conversely, the worst performers included Adani Ports (-4.63%), BEL (-4.42%), Adani Enterprises (-4.26%), Trent (-2.89%), and Grasim (-2.69%) I did.
“The Bears have reddened the market. Nifty has plummeted more than 2.50% in a week. The Indian stock market is a catastrophic deal that completely covers the positive momentum that has been built over the past two weeks. We are witnessing the week,” said Oshokrishnan, senior analyst for technical and derivatives at Angel One.
Market weaknesses are attributed to multiple factors. “The sentiment of risk aversion continues to dominate investors’ minds, especially at mid-sized and small caps, as corporate revenues are significantly lower than market expectations at the beginning of the year. Geojit Financial Services Head of Research Vinod Nair, said:
Technically, Rupak de, senior technical analyst at LKP Securities, said: The indices remain weak despite the fact that they managed to close 155 points lower as they continue to fall below the important short-term moving average. ”
The Indian rupee showed some resilience, strengthening at 6 paise and closing at 86.83 against the US dollar. Jateen Trivedi, VP research analyst at LKP Securities, commented: 88.00. ”
Foreign institutional investors (FII) were permanent sellers with net spills of Rs. The previous 24,888.74 crores will be in February 2025. Shrikant Chohan, Head of Equity Research at Kotak Securities, said:
Market observers are suggesting caution in the future. “The current market texture is weak and could slip to 22600-22500/74600-74300 if you break the 22800/75200 support zone,” while Ameya Ranadive, senior technical analyst at Stoxbox, said, “22850-22850 The areas around the world remain important support zones.”
Short-term outlook remains challenging as the market tackles both domestic and global headwinds. “Without major domestic triggers, global development is likely to provide a driving force in setting the tone of the market. However, looking at the ongoing scenario, we can see that aggressive bets are aligned. We recommend avoiding it and shedding light on the position,” warned Angel One’s Oshokrishnan.
