The benchmark indices, Sensex and Nifty 50, declined on Friday as investors booked profits in FMCG and banking stocks after a six-day rally and renewed foreign fund outflows. The Sensex dropped 344.52 points, or 0.41%, to 84,211.88 after hitting an intraday low of 83,957.15, while the Nifty 50 slipped 96.25 points, or 0.37%, to 25,795.15. During the truncated week, Sensex gained 0.30% and Nifty 0.33%, supported by festive demand and foreign inflows, both touching 52-week highs on Thursday.
Rupak De of LKP Securities said the Nifty weakened as traders booked profits, falling below 25,850 support and nearing 25,700. He expects short-term volatility before a possible rebound toward 26,000–26,200. Vinod Nair of Geojit Investments noted that festive optimism faded due to global tensions and profit booking, while strong PSU bank results and record festive sales reflected robust consumption. Rising crude oil prices from new sanctions on Russia could pressure India’s fiscal deficit.
Stock Picks:
Sumeet Bagadia suggests Cummins India (Buy ₹4,183 | Target ₹4,480), Hindalco (Buy ₹824 | Target ₹884);
Ganesh Dongre recommends SAIL (Buy ₹130 | Target ₹140), HUDCO (Buy ₹229 | Target ₹240), and ICICI Bank (Buy ₹1,377 | Target ₹1,420).
