Indian markets dip as Sensex falls to 78,009 Nifty 24,366
Friday saw Indian markets dip, with Sensex dropping 71 points to finish at 78,009 and Nifty losing 30 points to settle at 24,366.
Smaller stocks had it tougher, as both Nifty Smallcap 100 and Nifty Midcap 100 fell around 0.7% each.
Bond yield uncertainty keeps investors cautious
Uncertainty around global bond yields and steady oil prices at $87 per barrel kept investors cautious.
Sectors like auto, metal, and pharma slipped about 1%, but consumer durables managed a modest gain of almost 1%.
Among big movers: Asian Paints fell by nearly 2%, while Bharti Airtel stood out with a strong jump of over 2.5%.
Nifty support at 24,230 to 24,200
Technical analysts are watching key support levels near 24,230-24,200 for Nifty.
Despite Friday's drop, they feel better-than-expected corporate earnings during the quarter and improving local conditions continue to create opportunities for a bottom-up stock selection approach.