The Nifty futures lost 1.80 percent to close negative at 14,663. Among specific stocks, SAIL, SUN TV, Concor, Grasim, Divi’s Lab, Tata Chemicals, Apollo Tire, Federal Bank, Glenmark, UBL, Sun Pharma NSE 1.54%, Dr. Reddy, and Aurobindo Pharma saw a spurt in trade setup but in HDFC Weak, PVR, Kotak Bank NSE-3.11%, AU Bank, RBL Bank, M&M, Tata Motors
The Nifty 50 opened with a margin on Friday and was rangebound in the first half of the season and moved to a level of 14,600 in the second half before being cascaded. The Nifty ended the first season of the F&O series in May and the last season in April with a loss of around 260 points. The index ruled out the formation of highs and lows of the previous five sessions.
The bank Nifty opened with a gap and went south all day. Banking stocks faced constant pressure during the session and the Nifty broke the 32,700 level and settled the day with a huge loss of around 9,000 points. The index formed a bearish candle on the daily scale, but a sharp candle with a long upper shadow on the weekly chart. This negated the higher-level formation of the previous seven seasons. So far as it is below the level of 33,333, the index can see weakness in the levels of 32,500 and 32,150, while resistance can be seen at the levels of 33,333 and 33,500.
Asian stocks were mostly lower on Friday amid uncertainty about the prospects of a global economic recovery from the coronavirus epidemic.
Japan’s benchmark Nikkei 225 closed up 0.5% at 28,900.98 in morning trading. South Korea’s Kospi slipped 0.7% to 3,150.48. Australia’s S&P / ASX 200 fell 0.6% to 7,042.60. Hong Kong’s Hang Seng closed up 1.4% at 28,883.41 points, while the Shanghai Composite slipped 0.6% to 3,454.76.
The S&P 500 index gained 28.29 points to close at 4,211.47. The index also hit an all-time high on Monday. The Dow Jones Industrial Average rose 0.7% to 34,060.36, while the Nasdaq rose 0.2% to 14,082.55. Both indices had slipped earlier in the day.
Small-company stocks, which are outperforming the broader market this year, returned some of their recent gains. The Russell 2000 index closed up 0.4%, at 2,295.46.
In Energy Trading, Benchmark U.S. crude fell 37 cents to $ 64.64 a barrel in electronic trading on the New York Mercantile Exchange. On Thursday, it rose to $ 65.01 per barrel from $ 1.15. Brent crude fell 31 cents to $ 68.25 a barrel internationally.
In currency trading, the US dollar fell from 108.93 yen to 108.76 Japanese yen. The euro fell to $ 1.2118, changing slightly from $ 1.2122.