The Indian stock market kept falling Friday, extending its slide for a fifth straight session and leaving the week down about 2.5%.
Market Snapshot
The NSE Nifty dropped 193.55 points, about 0.8%, to finish at 25,683.30. The BSE Sensex fell 604.72 points, or 0.7%, ending the day at 83,576.24.
Tariff Uncertainty Dampens Sentiment
Investors are worried about possible U.S. tariffs that could target countries buying Russian oil, including India and China. The threat has killed hopes of a near‑term India‑U.S. trade deal, which many hoped would lift Indian equities.
Foreign Investor Activity
Foreign portfolio investors sold shares worth about ₹3,769 crore on Friday, while domestic institutions bought roughly ₹5,596 crore. In total, foreign investors have off‑loaded nearly ₹10,968 crore this month.
Technical Outlook
- Indices are showing a “double‑top” pattern, suggesting further downside until the Nifty breaks above the 26,000 level.
- The 200‑day exponential moving average at around 25,200 points is expected to act as strong support.
- Despite oversold signals, any bounce may be short‑lived.
US Supreme Court Verdict and Possible Reaction
The market is waiting for the U.S. Supreme Court’s decision on whether the president can impose tariffs without congressional approval. A ruling against the tariffs could trigger a quick rebound, but analysts expect the Nifty to stay flat through March as seasonal factors play out.
Oil and Volatility
Brent crude rose 0.9% to $62.4 a barrel, while the VIX volatility index increased 3.1% to 10.9.
Disclaimer
Remember, this is my perspective, not a prediction. Do your own research before making any investment decisions.