Mumbai, Oct 24 Indian stock markets ended lower on Friday, breaking a six-day winning streak, as investor sentiment weakened amid reports that the United States may launch a fresh probe into China’s 2020 trade deal.
At the closing bell, the Sensex fell 344.52 points, or 0.41 per cent, to settle at 84,211.88, while the Nifty declined 96.25 points, or 0.37 per cent, to end at 25,795.15.
"The Nifty remained weak during the session as traders continued to book profits. On the lower end, it slipped below the initial support of 25,850, leading to a decline towards 25,700,” market experts said.
“The next 1–2 sessions might remain volatile; however, a sustained rally looks possible thereafter. On the higher end, resistance is placed at 25,850, above which a rally towards 26,000–26,200 looks possible," it added.
Among major laggards on the Sensex were Hindustan Unilever (HUL), UltraTech Cement, and Titan, which weighed on the indices.
On the other hand, ICICI Bank, Bharti Airtel, Bharat Electronics Limited (BEL), and Sun Pharma provided some support, emerging as the top gainers of the day.
Sector-wise, the Nifty Metal index led the gains, rising 1.03 per cent, followed by the Nifty Oil and Gas index, which was up 0.2 per cent.
However, FMCG stocks came under pressure, with the Nifty FMCG index slipping 0.75 per cent, making it the biggest sectoral loser, followed closely by PSU Bank, which was down 0.74 per cent.
In the broader market, both midcap and smallcap stocks saw mild profit booking. The Nifty Midcap 100 closed 0.24 per cent lower, while the Nifty Smallcap 100 index fell 0.21 per cent.
Analysts said that concerns over renewed US-China trade tensions and rising oil prices amid US sanctions on Russia dampened market mood, prompting investors to take a cautious stance ahead of the weekend.
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