India's main stock indexes fell on Friday as foreign investors sold shares, pulling the market lower in a short trading week.
Market snapshot
At 2:30 pm, the Sensex was down 444 points (‑0.52 %) at 84,964, and the Nifty slipped 120 points (‑0.46 %) to 26,022. More stocks fell (2,221) than rose (1,592).
Rupee slips
The rupee weakened to 89.94 per US dollar, down 23 paise, as foreign fund outflows and higher crude prices added pressure.
Foreign institutional investors keep selling
FIIs sold shares worth about ₹1,721 crore on Wednesday, marking three days of net selling. Analysts say strong US growth and profit‑taking by hedge funds are driving the trend.
Crude oil rises
Global oil prices edged higher after the US increased pressure on Venezuelan shipments and carried out airstrikes in Nigeria. Brent rose to $62.48 a barrel, while WTI reached $58.58.
Profit‑booking in key sectors
Companies like Shriram Finance and Sun Pharma fell about 2 % as investors locked in gains.
Technical view
The Nifty’s 26,100 level is acting as a resistance point. An “evening star” candlestick suggests further downside toward the 25,935‑25,850 range, unless the index breaks above 26,325.
What this means for you
- Stay cautious if you hold equities that fell on the day.
- Watch the rupee and oil trends for clues on future market moves.
- Consider waiting for a clearer direction before adding new positions.
Disclaimer
Remember, this is just my perspective, not a prediction. Do your own research before making any investment decisions.