All major sectoral indices were trading in the red, with Nifty Metal the worst performer, followed by Nifty IT.
Markets remained under pressure through the first half of Friday’s session, with the Nifty 50 trading at 24,341.65, down 54.20 points or 0.22 per cent, and the Sensex at 77,839.55, lower by 240.41 points or 0.31 per cent, as of 12.35 pm. The session marks the fourth consecutive day of decline for the benchmarks, with the broader market struggling to find a directional trigger.Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, noted that ”the frontline indices continue to trade in an exceptionally narrow range, reflecting a clear lack of directional conviction.” He pointed out that the Nifty has remained confined within a 438-point trading band since August 4. “A decisive breakout from the prevailing consolidation range will be crucial in determining the next directional move,” he said, adding that until then, stock- and sector-specific movements would take precedence.Also read: Nifty Today: Index slips below 24,400 as metal stocks drag; Can it reclaim 24,500?On the Nifty 50, Shah identified 24,260–24,240 as the immediate crucial support zone. A slip below 24,240 could pull the index towards 24,120–24,100. On the upside, 24,430–24,450 is the resistance band, and a surge above 24,450 could extend the rally to 24,600. For the Sensex, support is placed at 77,400 and resistance at 78,350.The Advance-Decline Ratio on the Nifty stood at a weak 14:36 at midday, underlining the breadth deterioration. On the BSE, of 4,545 stocks traded, 2,192 advanced and 2,127 declined, with 226 unchanged. A total of 167 stocks hit 52-week highs against 95 touching 52-week lows, while 10 stocks were locked in upper circuits and 44 in lower circuits.All major sectoral indices were trading in the red, with Nifty Metal the worst performer, followed by Nifty IT. Mild profit-booking also emerged in the Nifty Midcap 100 and Nifty Smallcap 100 after their recent strong outperformance.Top gainers and losersAmong Nifty 50 losers, TMPV led the fall, sliding 4.92 per cent to ₹332.40 from a previous close of ₹349.60, with volumes surging to over 2.10 crore shares worth ₹70,032.14 lakhs. Asian Paints fell 2.21 per cent to ₹2,694.70 against a previous close of ₹2,755.50. Jio Financial Services dropped 1.82 per cent to ₹250.95, ONGC declined 1.68 per cent to ₹235.86, and NTPC shed 1.64 per cent to ₹338.60.On the gainers side, Apollo Hospitals led with a gain of 2.91 per cent, rising to ₹8,840.00 from a previous close of ₹8,600.00, on volumes of 8.47 lakh shares worth ₹74,638.06 lakhs. Bharti Airtel surged 2.81 per cent to ₹1,993.50 from ₹1,939.10, with value traded crossing ₹1,32,016.67 lakhs. Adani Ports advanced 1.63 per cent to ₹1,685.00, Adani Enterprises gained 1.54 per cent to ₹3,010.70, and Bajaj Auto edged up 0.82 per cent to ₹11,757.00.On the commodities front, MCX Crude Oil opened sharply lower near ₹7,750, retreating from resistance near ₹8,050, while US WTI crude eased to around $81 a barrel. The Indian rupee held steady, with USD/INR consolidating in the ₹95.3–₹95.4 range. COMEX Gold traded near $4,380 after facing rejection near $4,500, while MCX Gold slipped to around ₹1,52,500 from recent highs of ₹1,55,500. COMEX Silver traded near $64 and MCX Silver settled near ₹2,33,000, both extending their downside after recent peaks, with momentum indicators signalling caution across precious metals.On the options front, Shah noted meaningful call writing at the 24,400 and 24,500 strikes, while the 24,300 put had substantial open interest, followed by the 24,200 strike, suggesting the market is likely to remain pinned in this band through the remainder of the session. ”With neither the bulls nor the bears able to establish a decisive upper hand, market participants have largely adopted a wait-and-watch approach,” Shah added.Published on August 14, 2026
