Indian markets remained weak on Friday, with the Nifty trading below 24,350 as the index recorded its fourth consecutive day of losses. Persistent selling by Foreign Institutional Investors and global geopolitical concerns continued to dampen sentiment, with traders keeping a close watch on the 24,450 resistance level.
Indian equity markets struggled to find positive momentum on Friday, extending their losing streak to a fourth consecutive session. The Nifty 50 traded below the 24,350 mark, reflecting a cautious mood among market participants as indices continued to consolidate within a narrow range.
The primary driver of the recent caution has been persistent selling by Foreign Institutional Investors. Exchange data shows that overseas investors have continued to offload shares for the third straight session, reducing buying support for the headline indices. Market sentiment is also being impacted by ongoing geopolitical tensions in the Middle East, which have added uncertainty regarding global supply chains and energy costs.
From a technical perspective, traders are watching specific zones to gauge the next move. The Nifty 50 faces immediate resistance between 24,430 and 24,450. A sustained move above this range is needed for the index to show strength toward higher targets. On the downside, the index has immediate support in the 24,260–24,265 zone. If this support level fails to hold, analysts suggest the index could see further pressure toward lower levels.
The broader market reflected this weakness with a negative advance-decline ratio, meaning more stocks ended in the red than in the green. Sectoral performance was mixed. The Nifty Metal and Nifty IT indices faced significant selling pressure, which often happens when global sentiment sours as these sectors are sensitive to international demand and commodity price fluctuations. In contrast, sectors like Nifty Media and Consumer Durables showed relative resilience, suggesting that some domestic-focused themes are holding their ground despite the broader market decline.
Looking ahead, investors will be monitoring crude oil price movements and any updates regarding global stability, as these factors directly influence inflation expectations and fiscal calculations in India. The current consolidation indicates that the market is waiting for a fresh trigger, either from incoming corporate updates or a change in global risk appetite, to break out of the current trading band.