FII activity, Trump's tariff stance among 6 factors to impact D-Street trade this week
Nifty 50 on Friday slipped below the critical support level of 22,800, touching a low of 22,720 before closing at 22,795.90. The metals sector was the sole gainer, driven by optimism over potential tariffs aimed at protecting domestic producers from China’s dumping practices and better earnings. In contrast, Auto, Pharma, and Healthcare indices declined nearly 2%. Pharma stocks suffered a sharp sell-off following Trump’s unexpected tariff announcement on pharmaceuticals.
Additionally, the auto sector remained under pressure due to concerns over slowing demand, as highlighted in the Society of Indian Automobile Manufacturers’ (SIAM) report.
The benchmark BSE Sensex shed 424.90 points or 0.56% to close at 75,311.06, while the broader Nifty 50 index closed at 22,795.90, lower by 117.25 points or 0.51%.
“With the key support level of 22,800 breached, the downward trend may persist. The next critical support level to watch is 22,500, while resistance levels stand at 23,000 and 23,200. We anticipate Nifty to trade within the 22,500-23,200 range over the coming week,” said Gaurav Garg, Research Analyst at Lemonn Markets Desk.
Factors that are likely to impact movement when markets reopen this week:
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