Stock Market Today: Nifty Closes Below 23,800 As Investors Stay Cautious

Indian equity benchmarks extended their losing streak to a fifth consecutive session on Friday, marking their longest run of declines since early January, as investors remained cautious over elevated crude oil prices and their potential impact on inflation and economic growth.

The BSE Sensex dropped 332 points, or 0.43 per cent, to close at 76,059.77, while the NSE Nifty 50 fell 102.15 points, or 0.43 per cent, to settle at 23,767.45, slipping below the key 23,800 level.

Analysts said the 23,800–24,000 range has emerged as the immediate resistance zone for the Nifty, adding that the index must sustain above this level to improve its near-term outlook.

On the downside, the 23,700–23,600 range is expected to provide immediate support after cushioning Friday’s decline.

Among the Nifty constituents, Eternal, Bajaj Finance and Mahindra & Mahindra led the losses, dragging the benchmark index lower.

The broader market delivered a mixed performance. The Nifty Midcap 100 edged up 0.10 per cent, while the Nifty Smallcap 100 gained 0.32 per cent, indicating selective buying beyond large-cap stocks.

Sector-wise, the Nifty Auto index emerged as the worst performer, declining 1.1 per cent. Realty and pharmaceutical stocks also traded lower.

Gains in the Nifty IT and Nifty Media indices helped limit the overall decline.

Market participants remained cautious as they assessed the impact of persistently high crude oil prices on inflation and the broader economy.

Analysts said the five-day losing streak reflects a continued risk-off sentiment, with investors awaiting fresh domestic and global triggers.

Experts believe market sentiment may remain under pressure in the near term if crude oil prices stay elevated, as higher energy costs could weigh on inflation, corporate earnings and overall economic growth.

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