Nifty holds 23,000, Sensex up 44 pts; Axis Bank, Asian Paints gain as IT, Pharma drag
MCX Crude Oil drops sharply by 2.41% to ₹8,946, tracking a 1.79% fall in WTI crude to around $93 per barrel
The BSE's Nifty 50 index held steady around 23,000 points on Friday, trading in a narrow range with the Sensex up 44 points. While the Nifty 50 fell 11.60 points or 0.05%, the Sensex managed to rise 0.06%. The indices avoided the psychological barrier of 23,000, as stabilizing global markets and a slight dip in crude oil prices provided relief.
A total of 4,450 stocks were traded on the BSE, with more stocks declining than advancing. Axis Bank led the gainers, rising 2.44% to ₹1,215.40, followed by Asian Paints and HCL Technologies. Realty stocks saw the biggest gains, while the worst performer was Max Healthcare, dropping 3.36%. IT stocks continued their decline, with Infosys facing heavy selling for a second day.
Market breadth was negative, with the Nifty's Advance-Decline ratio at 27:23. Analysts noted crucial support at 22,920–22,940 and resistance at 23,230–23,250 for the Nifty, while the Sensex's support was pegged at 73,400 and resistance at 74,100.
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