Stock market today: Indian stocks fell on Friday, influenced by declines in the information technology and pharmaceutical sectors, as significant U.S. tariffs and a lackluster earnings season led to ongoing foreign selling and reduced investor confidence.
The Nifty 50 decreased by 0.63% to reach 24,441 . 70 points, while the BSE Sensex declined by 0.65% to 80,095.29, as of 11:14 IST.
Among the companies on the Sensex, Bharti Airtel, Infosys, Bharat Electronics, Eternal, Axis Bank, and HDFC Bank were some of the underperformers.
On the other hand, Titan, Bajaj Finance, NTPC, and Bajaj Finserv made gains.
Foreign Institutional Investors (FIIs) sold equities worth ₹4,997.19 crore on Thursday, as reported by exchange data. Conversely, Domestic Institutional Investors (DIIs) purchased stocks valued at ₹10,864.04 crore in the prior trading session.
Experts suggest that the market remains weak both technically and fundamentally. From a fundamental standpoint, there are currently no signs of a significant increase in earnings for FY26. These disappointing indicators, along with the relatively high valuations in India, are prompting continuous selling by FIIs.
Market Views – Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities
Nifty 50
Nifty 50 is trading on a weak note, hovering below its key resistance of 24,600, while finding limited support near 24,400. The index is struggling to sustain any upside, and intraday recoveries are facing consistent selling pressure. Momentum indicators like RSI remain flat, reflecting subdued sentiment. Unless Nifty 50 breaks above 24,600 decisively, it may remain rangebound to negative in the near term. Traders are advised to maintain a cautious approach and follow a sell-on-rise strategy with tight risk management.
Bank Nifty Outlook
Bank Nifty remains under pressure, with immediate support near 55,000 and resistance around 55,600. The index is trading below key short-term moving averages, and heavyweights in the banking space are showing limited strength. RSI and MACD both point toward continued weakness. If Bank Nifty breaks below 55,000, it may see further downside towards 54,500. For now, traders should consider a sell-on-rise approach until a strong reversal is confirmed.
Shares to buy for short term
Prashanth Tapse recommends buying these four stocks in the short term – Nestle India Ltd, Mahanagar Gas Ltd (MGL), Federal Bank Ltd, and Union Bank of India.
Nestle India Ltd
Buy | CMP: ₹1,112 | SL: ₹1,060 | Target: ₹1,180 / ₹1,225
Analysis: Nestle India has shown strength after rebounding from key support zones and is now trading above short-term moving averages. With improving volume participation and RSI trending upwards, momentum appears to be building. Sustaining above ₹1,112 could open doors to ₹1,180 and ₹1,225 in the near term. A wider stop-loss at ₹1,060 gives more room for price fluctuation while maintaining a positive bias.
Mahanagar Gas Ltd (MGL)
Buy | CMP: ₹1,315 | SL: ₹1,260 | Target: ₹1,400 / ₹1,450
Analysis: MGL has regained strength after a healthy consolidation and is showing positive price action supported by rising RSI. The stock is above key moving averages and forming a base near ₹1,300. A close above ₹1,315 can propel the price towards ₹1,400– ₹1,450. Traders may consider accumulating with a wider stop-loss at ₹1,260 for swing trades.
Federal Bank Ltd
Buy | CMP: ₹199 | SL: ₹188 | Target: ₹215 / ₹225
Analysis: Federal Bank is attempting a breakout from a recent range with improving volume and bullish RSI setup. It is sustaining above its 20-DMA and forming a bullish continuation pattern. If it holds above ₹199, there’s potential for a move toward ₹215 and ₹225. Traders can buy with a stop-loss at ₹188 to absorb market volatility and ride the upward trend.
Union Bank of India
Buy | CMP: ₹132 | SL: ₹124 | Target: ₹145 / ₹150
Analysis: Union Bank has bounced strongly from support near ₹126 and is showing bullish continuation on daily charts. The stock remains in an uptrend and is well-placed above its short- and medium-term averages. With RSI and MACD supporting the bullish view, a move beyond ₹132 can drive the price toward ₹145– ₹150. A slightly wider stop-loss at ₹124 is suggested for a more flexible trade setup.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
