Nifty under 25,000, Sensex stumbles 700 points to snap six-day rally as FMCG stocks drag

Bears snap six-session long rally on August 22.

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26 Aug, 2025 12:21

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Bears snapped a six-session winning streak during the last trading day for the week on Friday, August 22, as investors rushed to book profits after a solid run-up. The Nifty 50 gave up the key support level of 25,000, while the Sensex took a 700 point tumble. Market participants awaited cues on interest rates from the upcoming Jackson Hole symposium for the next trigger.

At close, the Sensex was down 693.86 points or 0.85 percent at 81,306.85, and the Nifty was down 213.65 points or 0.85 percent at 24,870.10. About 1693 shares advanced, 2208 shares declined, and 143 shares were unchanged.

On the sectoral front, most NSE indices ended in the red on the day. Nifty Auto slipped 0.2 percent, while Nifty IT and Nifty Metal declined 0.9 percent and 1.3 percent, respectively. FMCG, PSU Bank, Realty, Energy, and Infra indices also closed lower, shedding up to 1.1 percent. Bucking the trend, Nifty Pharma gained 0.38 percent and Nifty Media was the top performer, rising 1.03 percent.

Broader markets outperformed the benchmark on the day. The Nifty 50 slipped 0.85 percent, while the Nifty Midcap 100 eased just 0.2 percent and the Nifty Smallcap 100 shed 0.3 percent. However, on a year-to-date basis, largecaps are still ahead with a 5.2 percent gain, compared with a modest 0.7 percent rise in midcaps and a 4.5 percent decline in smallcaps.

"The headwinds for the market from Trump tariffs will weigh on markets constraining the rally of the last 6 days. If the penal tariff of 25 percent kicks in on August, and this appears likely, the impact on India’s growth will be not be 20 to 30 bps estimated with 25 percent reciprocal tariffs, but more. The market will have to discount that," noted VK Vijayakumar, Chief Investment Strategist, Geojit Investments.

The index would have the important 50EMA level near the 24,850 zone as the strong near-term support, while on the upside, as mentioned earlier, it needs to breach above the important hurdle of the 25,250-25,300 zone, which shall establish further stability and conviction for further upward movement in the coming days, said Vaishali Parekh, Vice President - Technical Research, PL Capital.