opened higher but quickly slipped into the red on Friday morning, with the trading at 74,094.54, down 221.07 points or 0.30 per cent from its previous close of 74,315.61, after opening at 74,341.08. The opened at 23,065.10 against its previous close of 22,997.35 but fell to 22,936.85, shedding 60.50 points or 0.26 per cent, as of 09.32 am.
The pull-back follows Thursday’s strong rally, when the Nifty surged 374 points to close at 22,997.35, breaking an 11-session trading range and reclaiming its 20-day EMA. Despite a firmer GIFT Nifty reading and positive Asian cues overnight, early selling pressure erased the gap-up gains.
Information technology stocks dominated the gainers’ list on the Nifty 50. surged 4.84 per cent to ₹1,729.90, while climbed 3.42 per cent to ₹1,148.00 and gained 2.91 per cent to ₹2,418.30. added 1.10 per cent to ₹1,362.80. Telecom major rose 0.81 per cent to ₹1,869.00.
On the losing side, fell 3.16 per cent to ₹533.15, making it the sharpest decliner on the index. dropped 2.54 per cent to ₹3,341.10. shed 1.98 per cent to ₹214.68, fell 1.52 per cent to ₹929.50, and declined 1.47 per cent to ₹1,197.20.
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Investments, attributed Thursday’s outperformance in part to the IT sector: “…the positive fallout from the Q2 results which have been better-than-expected, so far, and are likely to maintain the positive trend. The good results from the IT majors and the positive management commentary have led to a smart 9 per cent revival in the IT index contributing to the resilience of the Nifty.”
Wall Street closed in positive territory overnight, though gains were uneven. The Dow Jones advanced over 550 points, driven by consumer staples and industrial stocks, while the Nasdaq fell 1.88 per cent as semiconductor stocks extended a losing streak. Devarsh Vakil, Head of Prime Research at HDFC Securities, noted: “…the market stabilisation followed reassurance from sector leaders regarding the structural financial health of prominent AI data infrastructure partners.”
The US 10-year Treasury yield fell to approximately 5.09 per cent, its largest single-day drop in over a year. However, sticky wholesale and consumer inflation data raised concerns of another Federal Reserve rate hike. Dr. Vijayakumar flagged the FII risk: “…chances are that they will continue to sell so long as the 10-year yield is above 5 per cent and Brent trades above $100.”
On Thursday, FIIs recorded net equity outflows of approximately ₹5,285 crore, while DIIs net-purchased around ₹3,319 crore, cushioning some of the selling pressure.
Brent crude remains elevated near ₹105 per barrel, keeping pressure on India’s import bill. The Indian rupee appreciated 9 paise to close at 95.06 on Thursday, marking its fifth consecutive session of gains, aided by easing crude prices and unwinding of dollar long positions.
Separately, SEBI on Wednesday issued a circular revising key market microstructure rules, effective December 7, 2026. Dhiraj Relli, MD & CEO, HDFC Securities, outlined the changes: “…new CAS Market timing will be 3.30 pm to 3.40 pm,” with index derivatives ceasing trade at 3.30 pm on expiry days while stock derivatives continue until 3.45 pm. The F&O expiry settlement price reverts to a VWAP-based methodology using the last 30 minutes of continuous trading, 3.00 pm to 3.30 pm, across exchanges.
Shrikant Chouhan, Head of Equity Research at Kotak Neo, said the market’s near-term structure remains positive: “…buying on intraday dips and selling on rallies would be the ideal strategy for day traders,” with 22,875/74,000 as key support and 23,100–23,200/74,500–74,800 as resistance. Analysts cautioned that a fall below 22,800 could shift sentiment, while a sustained move above 23,100 would open the path toward 23,490.