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buy or sell stocks: The Indian stock market extended its selling for the second straight session on Friday. The Nifty 50 index broke below the 50-DEMA support and finished nearly 400 points lower from the weekly high at 24,837. This marks Nifty's fourth consecutive week of losses, with a weekly decline of 0.53%. Cipla, SBI Life, and Apollo Hospitals demonstrated strength in a broadly negative market, standing out as the Nifty's top performers on Friday. Conversely, it was a tough session for financial heavyweights, with Bajaj Finance, Shriram Finance, and IndusInd Bank ending as the major losers. Trading volumes on the NSE cash market were lower by 4% compared to yesterday. Baring, Nifty Pharma and Healthcare, and all other sectoral indices ended in red. Nifty Media, PSU Banks, Oil & Gas, and Metal fell sharply, registering the steepest declines and bearing the brunt of the selling pressure. The pain was even more acute in the broader market today, with the Nifty Midcap 100 and Smallcap 100 indices significantly underperforming the benchmark. The Nifty Midcap 100 Index plunged 1.61%, while the Nifty Smallcap 100 Index plummeted 2.10%. Market breadth remained weak for the seventh day, where declining shares surpassed advancers. The advance-decline ratio on the BSE stood at 0.40, the lowest since 19 June.

MANEESH VERMA

4/4/20251 min read