Nifty ends challenging FY25 with near 6% Gains.

Indian indices closed lower on Friday, pressured by declines in auto and IT stocks as investor sentiment turned cautious ahead of next week’s announcement of U.S. reciprocal tariffs.

After opening 8 points higher, Nifty surpassed the previous session’s high of 23646 but failed to sustain at higher levels. Nifty fell 72 points or 0.31%, to close at 23519. For the week, Nifty was up by 0.72%, while for the month it was up 6.3%.

NSE cash market volumes were higher by 4% as compared to the average of the last 10 days.

Rupee gained 32 paise against the dollar to close at 85.46, highest in three months, on the back of FIIS inflows, stable crude prices and weaker dollar.

Nifty Midcap and small cap Indices witnessed profit booking at higher levels where Nifty Midcap 100 index fell by 0.32% while Nifty Small cap 100 ended marginally in the red. Declining shares outnumbered the advancing ones for the fourth day in the row, with the advance-decline ratio stood at 0.60 on BSE.

Amongst the sector, Nifty Media, IT and Reality were major losers while Nifty FMCG and Private Banks ended in the green.

Infosys Ltd. contributed the most to the index decline, decreasing 2.1%. Wipro Ltd. had the largest drop, falling 3.7%. Shares of the BSE Ltd. surged as much as 17% as SEBI in its consultation paper proposed to keep all equity derivative contracts expiring either on Tuesday or Thursday. In response, NSE postponed its previously announced plan to shift contract expiry from Thursday to Monday.

Indian markets outperformed most of the Asian markets in today’s trading session. For the last two trading sessions, Nifty is giving respect to the crucial support of its 200-days EMA, placed near 23400. For the last four trading sessions, Nifty has been into the profit booking phase and reason behind the same could be the financial year-end adjustments.

Any level below 23400 could drag the index further towards the next support of 23142. However, a level above 23650 could trigger fresh bullish momentum, which could push the index towards the next targets of 23869 and 24125.