Indian equity benchmarks ended lower on Friday, with the Sensex falling 608 points (0.78 per cent) to 76,802.90 and the Nifty declining 155 points (0.64 per cent) to 24,013.10, as heavy selling in IT stocks followed weak sales and top-line projections from Accenture.
Market experts said the 24,100–24,200 zone continues to act as the immediate resistance area for the Nifty.
A sustained move above this range could strengthen bullish momentum and open the path towards the 24,400 level, the next major resistance zone.
On the downside, analysts identified 23,900 as a crucial support level, noting that holding above it would be important for preserving the broader recovery structure and maintaining a positive market undertone.
Among the top losers on the Nifty were Infosys, TCS, Tech Mahindra, HCL Tech, and Mahindra & Mahindra.
On the Sensex, Infosys led the decline, followed by TCS, HCL Tech, Tech Mahindra, HDFC Bank, and Mahindra & Mahindra.
In contrast to the benchmark indices, broader markets ended higher. The Nifty Mid Cap index gained 0.22 per cent, while the Nifty Small Cap index rose 0.42 per cent.
Sectorally, Nifty IT emerged as the worst-performing index. Realty, Auto, and Oil & Gas sectors also underperformed, while Pharma stocks recorded the strongest gains.
Analysts said investors will continue tracking foreign institutional investor flows, monsoon progress, crude oil prices, and management commentary from major corporates, particularly Reliance Industries’ AGM, for market direction.
The rupee strengthened marginally by around 7 paise to trade near 94.31 against the US dollar, supported by softer crude oil prices.
Analysts expect the currency to trade in the 93.90–94.65 range, with the ongoing positive trend keeping open the possibility of testing the 94.00 level in the near term.
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