Mumbai, India: The domestic stock markets witnessed a sharp decline last Friday, with both major indices closing lower. The BSE Sensex, comprising 30 stocks, fell by 1,048.16 points to close at 82,626.76, while the NSE Nifty lost 336.10 points to end at 25,471.10.
The sell-off was driven by weakness in global markets, heavy selling pressure in metal, IT, and commodity stocks, and investor disappointment over quarterly earnings that fell short of expectations. Additional pressure on IT stocks due to AI-related concerns further dampened investor sentiment.
During the trading session, Sensex touched a low of 82,534.55, down 1,140.37 points at one stage, while Nifty fell as much as 362.9 points to 25,444.30 before closing. Out of the 30 Sensex constituents, 28 stocks ended in the red. Notable losers included Hindustan Unilever, Eternal, Titan, Tata Steel, Adani Ports, TCS, Power Grid, Reliance Industries, Bharat Electronics, Asian Paints, Mahindra & Mahindra, HDFC Bank, and HCL Technologies. Only Bajaj Finance and State Bank of India closed higher.
Stocks Showing Buying Interest
Several stocks are showing strong buying momentum, including Bajaj Finance, Lenskart Solutions, Engineers India (EIL), GE Power India, Universus Photo Imagings, Repro India, Laxmi Cotspin, and Anmol India. Many of these have crossed their 52-week highs, signaling potential upside.
Stocks Indicating Bearish Signals
The MACD indicator has flagged a bearish trend for stocks such as HDFC Bank, Reliance Industries, ICICI Bank, SpiceJet, Hindustan Unilever, Hindalco Industries, Eternal, Adani Enterprises, Crown Lifters, Muthoot Finance, and ONGC, suggesting the possibility of further downside in these shares.
Disclaimer: The stock suggestions and analyses mentioned are based on inputs from individual analysts and brokerage firms, not NBT. Investors are advised to consult certified financial advisors before making any investment decisions, as market conditions can change rapidly.
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