Market closes mixed as Adani Ports surges 4.37%, JSW Steel tumbles nearly 6%
Market Analysis: Adani Ports Surges 4.37% While JSW Steel Tumbles 6% in Mixed Trading Session
Table of Contents
Market Overview
Indian benchmark indices concluded Friday’s volatile session with mixed results, as the Sensex managed to secure gains while the Nifty struggled amid profit-booking at higher levels.
Top Market Movers
Top Gainers
Top Losers
Market Breadth & Capitalization
Market Capitalization
The total market capitalization of BSE-listed companies stood at ₹42,357,227.19 crore, with the top 10 companies contributing ₹9,695,782.37 crore, highlighting the market’s concentration in heavyweight stocks.
Technical Insights
Nifty Technical Analysis
The index displayed significant volatility, reaching an intraday high of 24,589 before facing selling pressure and dropping to 24,238. Support is established at 24,250, with a potential correction towards 24,000 if breached.
Key Levels
- Resistance: 24,590
- Support: 24,250
- 200-Day SMA: 24,050
Market Indicators
Institutional Activity
Currency & Commodities
The Indian rupee showed volatility, opening at 83.75, while gold prices rebounded by ₹950 to ₹93,325 on MCX, finding support near $3,200 on Comex.
Future Outlook
Trading Strategy
Experts recommend a ‘buy on dips’ strategy, focusing on stocks showing relative strength. The market is in a consolidation phase with resistance near 24,500, while rotational buying in heavyweight stocks provides downside protection.
Weekly Performance
- BSE Sensex: +1.6%
- Nifty 50: +1.2%
- BSE Midcap: -0.4%
- BSE Smallcap: Flat
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