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Indian equities declined for a third consecutive session on Friday, dragged by real estate, IT, and auto stocks. The Nifty 50 index slipped 74 points to settle at 24,426.85, while the Sensex dropped 271 points to close at 79,809.65.

Nifty’s weekly loss stood at 1.75%, hurt by heavy selling pressure in the previous couple of sessions as the equity markets came to terms with Donald Trump-imposed tariffs on Indian goods. This marked the Nifty 50 index’s first weekly loss in three weeks. Retail sentiment on Stocktwits remained ‘bearish,’ compared to ‘bullish’ earlier this week.

Stock watch

Gains in fast-moving consumer goods (FMCG), media, and consumer durables stocks offset some of the losses seen in the other major indices.

Shares of FMCG giants gained on reports that the Indian government is considering reducing the goods and services tax (GST) on select consumer products to 5%. ITC (+2.17%), Colgate (+3.06%), and Britannia (+1.7%) closed in the green. ITC was the top gainer on the benchmark Nifty 50 index.

Shriram Finance reversed two loss-making sessions to close 1.79% higher. Bharat Electronics (+1.53%), Asian Paints (+1.25%), and L&T (+1.26%) rounded off the top five gainers on the NSE.

Apollo Microsystems’ shares jumped to fresh highs on Friday after securing orders from India’s Defence Research and Development Organisation (DRDO).

Among the laggards, Reliance Industries shares closed 2.16% lower. At the annual general meeting earlier, Mukesh Ambani highlighted the conglomerate’s artificial intelligence drive as well as Jio’s potential listing in the first half of 2026.

Mahindra & Mahindra (M&M) was the top loser on the Nifty 50 index, closing 2.9% lower. IT bellwether Infosys ended down 2%.

Analysts Takes

Nifty 50 closed below the 24,500 mark, failing to post even a single hourly close above the prior hour’s level high despite intraday pullbacks, noted SEBI-registered analyst Ashish Kyal.

As long as 24,572 holds as resistance, traders should avoid fresh buying and look to sell on rises, with crucial support placed at 24,330.

The Nifty’s technical structure has weakened ahead of the new month, with the hourly chart signaling a bearish crossover that points to short-term selling pressure, noted SEBI-registered analyst Manjushree Sharma.

On the daily timeframe, the index is forming a Head & Shoulders (H&S) pattern, a well-known reversal formation that often precedes a deeper correction if confirmed, she said.

European Markets

Every major European market traded in the red. Spain’s benchmark IBEX 35 index was down 1%.

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