Stock Market Live Updates: NSE Nifty50 closes below 24,200, BSE Sensex down over 500 points; Dalal Street ends week in red as crude oil prices rise on renewed US-Iran tensions

Indian equity benchmarks ended the session in red as NSE Nifty50 and BSE Sensex closed down 0.6%. While Nifty50 ended the day down 150.50 points or 0.62% to 24,176.15, Sensex tumbled to 77,328.19, shedding 516.33 points or 0.66%.

Indian equity benchmarks, BSE Sensex and NSE Nifty50 traded in red through the session. While NSE Nifty50 reached 24,179, down 185.75 points or 0.76%, BSE Sensex tumbled 598 points to 77,246.31, as of 2:20 pm.

Indian equity markets are trading in red, with BSE Sensex trading at 77,301.15, down 543.37 points or 0.70%. At the same time, NSE Nifty50 reached 24,212.50 or 153.25 points or 0.63%.

Among the gainers, Asian Paints rose 2.18%, followed by Adani Ports up 1.43%, HCL Technologies gaining 1.01% and Sun Pharma advancing 0.90%. Infosys added 0.86%, while Tech Mahindra climbed 0.85%. Other notable gainers included Hindustan Unilever (+0.72%), Bharti Airtel (+0.59%) and IndiGo (+0.40%).

On the losing side, selling pressure was visible in heavyweights. HDFC Bank and UltraTech Cement both declined 1.93%, while Bajaj Finance fell 1.85%. Axis Bank slipped 1.56%, Larsen & Toubro dropped 1.36% and Eternal was down 1.22%. ICICI Bank lost 1.17%, followed by Trent (-1.02%) and Bajaj Finserv (-0.96%). Broader declines were also seen in TCS, Reliance, SBIN, M&M, Titan and Tata Steel, among others.

At 10:44, BSE Sensex stood at 77,505.66, down 338.86 points or 0.44%, while NSE Nifty 50 was at 24,233.40, down 93.25 points or 0.38%.

VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said that uncertainty over developments in the Middle East is continuing to keep markets on edge. He noted that despite the geopolitical tensions, market performance has varied sharply across regions, with some performing strongly while others have lagged.

"An important market trend amidst this crisis is that despite this geopolitical tension some markets are doing extremely well while some others are performing poorly. South Korea and Taiwan are the star performers this year with 71% and 40% returns YTD. These excellent returns have been generated by a few AI stocks," the export further told ANI.

Stock market began the day in red as oil prices continued to rise amid intensifying tensions in the Middle East. BSE Sensex was trading at 77,451, down 393.52 points or 0.51%. NSE Nifty50 was also trading under pressure, falling 126.65 points or 0.52% to 24,200.00 around 9:17 am.

Index formed a high wave candle with shadows in either direction signaling consolidation amid stock specific action. During current week it has generated a breakout above the upper band of the falling channel containing the last nine sessions corrective decline highlighting positive bias while holding above the breakout area of 55,000.

Index is currently placed around the last week high of 56,475. A follow through strength above the same will open further upside towards 57,500 levels in the coming weeks.

Failure to move above 56,475 will signal extension of the recent consolidation in the range of 55,000-56,475.

Index has key support around 54,000-54,500 levels being the confluence of the recent low and 38.2% retracement of the last 3 weeks pullback (49,955-57,456).

Nifty50 and BSE Sensex finished lower on Thursday after a volatile trading session, with investor sentiment remaining subdued due to continued foreign capital outflows and growing geopolitical tensions.

The 30-share BSE Sensex closed down by 114 points, or 0.15%, at 77,844.52 after witnessing sharp swings through the day. During intraday trade, the index touched a high of 78,384.70 and slipped to a low of 77,713.21, moving within a broad range of 671.49 points.

The NSE Nifty50 also ended marginally weaker, falling 4.30 points or 0.02% to settle at 24,326.65.

Among Sensex constituents, major losers included Hindustan Unilever, Tata Consultancy Services, Tech Mahindra, Titan, Sun Pharma and ITC. On the gaining side, Mahindra & Mahindra, NTPC, Kotak Mahindra Bank and Tata Steel emerged as key outperformers.

Broader markets, however, remained firm. The BSE MidCap Select index advanced 1.40%, while the SmallCap Select index gained 1.09%.

Oil prices climbed more than 1% on Friday after fresh clashes erupted between the United States and Iran, raising concerns over the fragile ceasefire and weakening expectations of any near-term breakthrough on reopening the Strait of Hormuz, a crucial route for global oil and gas shipments.

As of 0123 GMT, Brent crude futures had advanced $1.41, or 1.41%, to $101.47 per barrel. Meanwhile, US benchmark West Texas Intermediate (WTI) crude gained $1.12, or 1.18%, to trade at $95.93 a barrel. Prices had initially surged more than 3% at the start of trading.

The rebound interrupted a three-session losing streak that had followed reports earlier this week suggesting Washington and Tehran were nearing an agreement that could end hostilities and fully restore movement through the Strait of Hormuz, while postponing broader disagreements linked to Iran’s nuclear programme.

Despite Friday’s gains, both crude benchmarks remain on track to register weekly declines of around 6%.

From a technical standpoint, the index continues to consolidate after the recent recovery rally, reflecting indecisiveness near higher levels. Immediate support is placed in the 77,250–77,350 zone, which is expected to act as a near-term demand area. On the upside, resistance is seen around 78,350–78,500, where the market may continue to witness profit booking and supply pressure.

The near-term outlook remains sideways with a cautious undertone, as geopolitical concerns and mixed global sentiment continue to keep traders selective. Although buying support is visible on dips, the index requires a decisive breakout above resistance levels for fresh bullish momentum. Until then, markets are likely to remain volatile and range-bound in the short term, says Hitesh Tailor, Technical Research Analyst at Choice Equity Broking Private Limited.

Index formed a small bearish candlestick pattern with shadows in either direction signaling consolidation amid stock specific action. Nifty started the session on a positive note but failed to sustain above 24,400 and closed on a flat note. Nifty is currently placed around the upper band of the last 10 sessions trading range 23,800-24,400.

Going ahead, a breakout and a close above 24,400 will open further upside towards 24,600 and 24,800 levels in the coming weeks. Stock specific action will continue to remain in focus as we progress through the quarterly earning session. Failure to move above 24,400 will signal extension of the last 10 sessions consolidation in the range of 24,400-23,800. Short-term support is placed at 23,800 levels, being the almost identical low of the last two weeks.