Stock market today saw mixed action on Friday as 119 stocks touched their 52-week highs, while 110 hit their 52-week lows. Among the top gainers hitting fresh highs were JK Cement Ltd, Global Health Ltd, Nuvoco Vistas Corporation Ltd, Sai Life Sciences Ltd, and Star Cement Ltd. On the downside, Tejas Networks Ltd, Protean eGov Technologies Ltd, PDS Ltd, Quess Corp Ltd, Route Mobile Ltd, and SpiceJet Ltd were among those hitting 52-week lows.
The Indian equity markets closed lower for the sixth straight week as escalating US tariffs, trade uncertainty, and weak corporate earnings continued to weigh on investor sentiment. Both the Nifty 50 and Sensex fell by 0.95%, ending at 24,363.3 points and 79,857.79 points respectively. For the week, the Nifty dropped 0.8% while the Sensex shed 0.9%, marking their longest losing streak since April 2020.
Stock Market Today: US Tariffs Drive Sentiment Lower
Market weakness deepened after US President Donald Trump ruled out trade talks with India until tariff disputes were resolved. This followed his decision to double tariffs on Indian goods to 50%, effective August 27, in response to New Delhi’s continued Russian oil imports.
“The primary catalyst for Friday’s decline was Trump’s aggressive stance on trade with India,” said Vaibhav Vidwani, Research Analyst at Bonanza.
Nifty 50 Outlook Remains Weak
According to Nilesh Jain, Head of Technical and Derivatives Research at Centrum Broking, the Nifty extended its losing streak to a sixth week, slipping below its 100-DMA at 24,500 — now an immediate resistance level. The 200-DMA at 24,050 is expected to act as short-term support. Jain added that the overall trend will remain weak while the index trades below 24,800, with any rebounds likely to attract selling pressure.
Disclaimer:
The information provided in this blog is for educational and informational purposes only. It does not constitute investment advice, a recommendation, or an offer to buy or sell any financial instruments. Stock market investments are subject to market risks. Past performance is not indicative of future results. Readers are advised to consult a qualified financial advisor before making any investment decisions. The author and publisher are not liable for any losses or damages arising from the use of this information.
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