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Domestic equities are eyeing a rebound on Friday after a two-day slide, with focus squarely on Reliance Industries’ Annual General Meeting (AGM)
Sensex Today
Sensex Today: In a see-saw trade, the Indian equity market ended over 270 points lower on Friday after a positive start. After gaining over 150 points, Sensex traded marginally higher around 2:00 pm to 80,105. Nifty also traded flat above 24,500.
Indian equities opened on a positive note Friday, recovering after a sharp two-day sell-off. The BSE Sensex rose 70 points, or 0.09%, to around 80,217, while the Nifty50 reclaimed the 24,500 mark, up 44 points or 0.18% at 24,545.
The markets remained under pressure through the week, with persistent selling seen at higher levels. The Nifty index has slipped below all key short-term moving averages, while momentum indicators have turned negative on both daily and weekly charts, Nilesh Jain, Head – Technical and Derivatives Research Analyst, Centrum Broking.
The 48th Annual General Meeting (AGM) of Reliance Industries Limited remained the center of focus during the trading hours, where several new product launches and update on Jio IPO were made. RIL Chairman Mukesh Ambani said Jio IPO is likely to come in the first half of 2026, as the preparation of filing papers is underway.
Beyond RIL, markets will also track India’s Q1FY26 GDP data and the April–July fiscal deficit numbers.
In the broader market, the Nifty MidCap index gained 0.14% and the Nifty SmallCap rose 0.25%. Sectorally, the Nifty FMCG led with a 1% gain, while the Nifty Auto was the worst performer, slipping 0.28%.
For near-term cues, Kotak Securities’ Shrikant Chouhan said 24,600 on Nifty is a crucial resistance. A sustained move above it could extend the rebound towards the 20-day SMA at 24,725 and even 24,800, while trading below may drag the index down to the 24,350–24,300 range.
Global Cues
In Asia, equities were mixed despite Wall Street scaling fresh highs on stronger-than-expected US economic growth. Japan’s Nikkei slipped 0.33%, while South Korea’s benchmark fell 0.17%, dragging the MSCI Asia Pacific index lower.
Meanwhile, China’s markets remain in focus ahead of earnings from heavyweights Alibaba and BYD. Notably, Goldman Sachs raised its 12-month target for the CSI 300 Index to 4,900 from 4,500, according to Bloomberg.
Overnight in the US, upbeat GDP data drove benchmarks higher, with the S&P 500 closing up 0.32% and the Nasdaq gaining 0.53%.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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