Nifty Slides 150 Points Amid Weak Global Cues; Broader Markets Outperform

Nifty fell 150 points to 24,176, breaking its recent alternating trend as persistent global weakness drove broad selling from the open. Intraday rebounds were unable to gain traction, though the index still closed the week with a 0.74% gain.

Turnover on the NSE cash market eased 4%. Gains in Titan, Apollo Hospitals, and Asian Paints were offset by declines in SBI, Coal India, and HDFC Bank. Sector performance was mixed: IT, consumer durables, and FMCG outperformed, while PSU banks, financials, oil & gas, and metals lagged. Broader markets remained relatively firm, with smallcaps ending in the green despite slightly weaker breadth.

The rupee weakened to 94.48 amid renewed geopolitical tensions and crude spiking above $100. Technically, Nifty appears to be losing momentum, with consolidation likely. Support lies at 24,000 and 23,800, while 24,600 remains a key resistance.

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