Mumbai | September 26, 2025 — Indian equities opened on a weak footing on Friday, with the benchmark Nifty 50 trading near 24,815 (-0.3%) by 09:06 IST, extending its losing streak to a sixth session. The cautious tone follows Thursday’s broad-based sell-off, where global risk appetite turned fragile and foreign flows stayed muted.
Early Market Sentiment
The opening ticks showed a mixed breadth. While a few banking and auto names attempted mild recovery, sectors such as IT, metals, and energy remained under pressure. Market participants are treating today’s start as a test for key technical levels, especially the 50-day moving average (DMA) positioned around 24,876.
Analysts believe this zone could act as a make-or-break pivot for near-term direction. A bounce above this mark may provide relief to bulls, but a sustained slip below 24,800 could invite further downside pressure.
Technical Picture and Key Levels
The Nifty has already lost over 500 points in the past five trading sessions, slipping from above 25,300 earlier this week. This steady decline has dragged the index closer to important supports.
- Immediate Support: 24,800, followed by a deeper cushion at 24,650–24,700.
- Resistance Zone: 25,050–25,100, where selling pressure is expected to return.
- Volatility Watch: The India VIX has shown mild upticks in recent sessions, signaling rising hedging demand among traders.
| Index | Open | Change | Support | Resistance |
|---|---|---|---|---|
| Nifty 50 | 24,815 | -0.3% | 24,650–24,700 | 25,050–25,100 |
Domestic Drivers
The Indian market is being influenced by both macro and micro triggers.
- On the domestic front, September derivatives expiry yesterday added to volatility, with rollovers reflecting cautious positioning.
- Corporate news flow remains mixed — while banks have shown resilience, IT majors are struggling with global uncertainties around demand and visa costs.
- Rupee weakness has also kept investors guarded, hovering near recent lows against the dollar.
Global Cues in Play
Weakness across Asian peers weighed on local sentiment. Overnight, U.S. equities had closed lower on renewed concerns over sticky yields and upcoming economic prints. Higher crude oil prices too remain a risk, with Brent trending above $85/barrel, which could pressure India’s import bill and inflation outlook.
Foreign portfolio investors (FPIs) have turned net sellers in recent days, adding to supply in frontline stocks. Market watchers say sustained outflows could keep rallies in check even if domestic flows remain supportive.
What Traders Are Watching
Going into the day, traders are closely tracking whether Nifty can defend the 24,800 mark. A decisive move here will set the tone for afternoon trade. Broader participation has thinned, with mid- and small-cap segments showing selective action but no broad recovery yet.
“Today’s session is crucial because it comes after a five-day slide,” said a Mumbai-based dealer. “If the index fails to hold above 24,800, sentiment may sour further and we could drift toward 24,600 levels in the coming week.”
Market Outlook
While the short-term setup appears shaky, experts note that long-term fundamentals remain intact, supported by steady earnings and domestic liquidity. For now, traders may prefer stock-specific plays and defensive positioning until clarity emerges on global risk cues.
Investors are also awaiting domestic inflation prints, fiscal data, and Q2 earnings updates, which could influence positioning in October.
