Indices

On Friday, the benchmark indices resumed rout after a breather on Thursday. Sensex fell over 1,000 points and the Nifty settled near 24,450.

At the close, both Sensex and Nifty pared some of the day's gains after Bloomberg clarified that the Iranian deputy foreign minister's comment was made earlier during talks with the US.

Sensex recoups over 500 points from day's low. Nifty IT Index rebounds after erasing morning gains.

For the Nifty, the 50-day extended moving average zone of 25,630-25,660 will act as an immediate hurdle.

Unlike the Nifty 50 or the Sensex, which track stock price movements, India VIX measures the cost of hedging market risk.

While on the upside, immediate resistance is placed at 25,400.

MSCI's periodic index review sparked last-minute volatility, leading to Nifty 50 and Sensex closing lower on Friday.

"One should not go all out and buy as there is deep cut in the market," market expert Neeraj Dewan advised.

The broader markets, represented by the NSE Nifty 500 Index, outperformed the benchmark indices, led by Concord Biotech's 13% rally, followed by Usha Martin's 6% gain.

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The lack of understanding of whether the AI tools will replace traditional software firms is scaring the investors off.

Twelve out of 15 sectoral gauges compiled by the NSE traded lower, led by the NSE Nifty IT Index's 2.7% fall.

Eleven out of 15 sectoral gauges compiled by the NSE ended higher, led by the NSE Nifty PSU Bank Index's 1.4% gains.

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The Bank Nifty finds crucial support zone at 60,400-60,500.

The Sensex fell as much as 0.8% to 83,073. The Nifty 50 declined as much as 0.7% to below 25,600. The Nifty Pharma index was the only sectoral gainer.

The BSE Sensex rose nearly 300 points to end at 83,734.25, while the NSE Nifty 50 rose 0.4% to end above 25,800.

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Dow Jones Industrial Average opened at 49,525.37, little changed.