Indian market snapped six-day winning streak and dragged Nifty near 25,700, intraday, amid selling across the sectors barring metal and telecom names.
Amid positive global cues, the market opened on a positive note buy failed to hold on to the gains and witnessed extended selling as the day progressed, dragging Nifty to day's low of 25,718.20.
At close, the Sensex was down 344.52 points or 0.41 percent at 84,211.88, and the Nifty was down 96.25 points or 0.37 percent at 25,795.15. BSE Midcap and Smallcap indices are trading flat.
For the week, the BSE Sensex and Nifty rose 0.3% each.
Also Read: Equity cash turnover rises 22% MoM in September; H1FY26 records 19% YoY decline
Cipla, HUL, Adani Ports, Max Healthcare, UltraTech Cement were among top losers on the Nifty, while gainers were Hindalco, Bharti Airtel, ONGC, Shriram Finance, ICICI Bank.
Among sectors, metal and telecom indices up 1% each, while FMCG, PSU Bank, pharma, private bank, consumer durable down 0.5-1%.
Also Read: India's private sector activity eases to five-month low in October, PMI shows
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 84,896.30 | -54.65 | -0.06% |
| Nifty 50 | 25,977.00 | -36.45 | -0.14% |
| Nifty Bank | 59,079.90 | 117.20 | +0.20% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Bharti Airtel | 2,150.20 | 38.00 | +1.80% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Interglobe Avi | 5,765.50 | -107.50 | -1.83% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Bank | 59080.30 | 117.60 | +0.20% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Metal | 10396.30 | -99.60 | -0.95% |
In stock-specific action, Thyrocare Technologies shares were up nearly 2% after promoter sold 10% stake, Colgate Palmolive (India) share down 2% after Q2 profit slipped 17%, Federal Bank shares hit 52-week high after board approves issuance of warrants to Asia II Topco XIII Pte, PTC India Financial Services shares added 11% after Q2 consolidated profit jumps 86%, South India Paper Mills gained 16% on reporting profit in Q2, Aditya Birla Sun Life AMC shares slipped 2% on posting fall in Q2 profit.
Nearly 150 stocks touched their 52-week high on the BSE, including Sammaan Capital, Hindalco Industries, Cholamandalam Investment, Cummins India, Motilal Oswal, Shriram Finance, Federal Bank, Laurus Labs, MRF, among others. Click to View More
Outlook for October 27
Rupak De, Senior Technical Analyst at LKP Securities
The Nifty remained weak during the session as traders continued to book profits. On the lower end, it slipped below the initial support of 25,850, leading to a decline towards 25,700.
The next 1–2 sessions might remain volatile; however, a sustained rally looks possible thereafter.
On the higher end, resistance is placed at 25,850, above which a rally towards 26,000–26,200 looks possible.
Ajit Mishra – SVP, Research, Religare Broking
Markets extended their decline on Friday, with the Nifty slipping nearly 0.4% to close around 25,795. After a flat start, the index remained under pressure throughout the session amid broad-based selling. Sectorally, most indices moved in line with the benchmark, with FMCG, banking, and pharma among the top losers, while metals stood out, gaining over a percent. The broader indices also ended in the red, leading to weak market breadth.
Persistent profit booking in heavyweights after the recent rally, coupled with declines in FMCG majors post-earnings, weighed on sentiment. Additionally, volatility in global tech stocks and uncertainty surrounding upcoming U.S. inflation data further dampened risk appetite.
We maintain a bullish view despite the ongoing corrective phase and suggest retaining a positive bias as long as Nifty holds above 25,600. However, traders should remain selective, focusing on sectors showing relative strength, particularly large-cap and quality mid-cap stocks.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decision.
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