Indian Stock Market Update

Key Highlights

• The Indian stock market ended the week under significant corrective pressure, recording one of the steepest weekly declines in recent months.
• The sharp shift in global risk appetite triggered broad-based profit-taking across sectors, with foreign institutional investors (FIIs) remaining aggressive net sellers.
• Domestic institutional investors (DIIs) provided strong counterbalancing support, recording net purchases of ₹37,740 crore.

Market Sentiment

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The global risk sentiment continued to deteriorate, with the US-Iran war intensifying and energy prices surging. This led to notable capital outflows from Indian equities, with FIIs recording total outflows of ₹35,053 crore during the week. The India VIX index climbed 5.24% to 22.64, reflecting heightened market volatility and rising investor uncertainty.

Nifty 50 Index

The Nifty 50 index continued its bearish momentum for the fourth straight session, opening at 23,462.5 with a gap-down of nearly 170 points. The index eventually settled at 23,151.10, down 488.05 points (-2.06%).

Technical Analysis

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According to Sumeet Bagadia, Executive Director at Choice Broking, the 23,300-23,350 zone is emerging as immediate resistance, while a solid support base is forming near 23,000-23,050.

Stock Picks

For the short term, Sumeet Bagadia recommended the following stocks:

• Syngene International: Buy at ₹420.85, Target ₹445, Stop Loss ₹400
• Muthoot Finance: Buy at ₹3333.20, Target ₹3550, Stop Loss ₹3116
• Tata Consumer Products: Buy at ₹1083.60, Target ₹1140, Stop Loss ₹1035