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Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, dipped in opening trade on Friday following global cues. While BSE Sensex was near 82,300 levels, Nifty50 was below 25,200. At 9:18 AM, BSE Sensex was trading at 82,262.32, down 235 points or 0.28%. Nifty50 was at 25,174.40, down 76 point
The Indian stock markets have been experiencing a downturn due to global market weakness.This decline was primarily attributed to heightened tensions in the Middle East and a sharp increase in crude oil prices.
Ajit Mishra, SVP of Research at Religare Broking, commented on the market sentiment: “Geopolitical uncertainty and concerns over a potential decline in foreign inflows have spooked the markets. With Nifty breaching multiple supports—such as the 20-day exponential moving average (DEMA) around the 25,580 level and trendline support near 25,350 — the market could face further downside.”
Technical analysts, such as Hardik Matalia from Choice Broking, have identified immediate support levels at 25,000 and 24,750, while resistance is expected at 25,500. Traders are advised to monitor these key levels closely, as a breach of support could lead to further downside, while resistance may limit short-term recovery attempts.
In the United States, stocks closed lower on Thursday ahead of the monthly payrolls report and amid ongoing concerns about the growing conflict in the Middle East. The Dow Jones Industrial Average fell 0.44%, the S&P 500 dipped 0.17%, and the Nasdaq Composite declined 0.04%.
Asian markets were mixed on Friday, with Japanese shares rising while Australian stocks and Hong Kong equity futures fell. Mainland Chinese markets remained closed for a holiday. S&P 500 and Nasdaq futures were steady early Friday following slight declines in the two indexes on Thursday. Energy companies outperformed due to higher oil prices.
Oil prices edged higher in early Asian trading hours on Friday, maintaining strong weekly gains. Investors weighed the potential disruption in crude flows due to the Middle East conflict against an adequately supplied global market.
The U.S. dollar remained near a six-week high on Friday, set for its biggest weekly gain since April, driven by safe-haven demand amid rising Middle East tensions. Market activity is expected to be subdued ahead of the release of U.S. non-farm payrolls data, which will influence the Federal Reserve’s interest rate outlook.
Several stocks, including BirlaSoft, Bandhan Bank, Hindustan Copper, RBL Bank, Granules, and Manappuram, are under the F&O ban period today. These securities have crossed 95% of the market-wide position limit.
Foreign portfolio investors (FPIs) turned net sellers, offloading shares worth Rs 15,243 crore on Thursday, while domestic institutional investors (DIIs) bought shares worth Rs 12,914 crore.
FII data revealed that the net long position of foreign institutional investors reduced from Rs 3.38 lakh crore on Tuesday to Rs 1.62 lakh crore on Thursday.
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