D-Street Ahead: How will the Indian stock market move next week? Key technical levels for Nifty, Sensex

D-Street Ahead: Benchmark BSE Sensex reversed its early gains to close lower by 200 points on Thursday, marking its fifth straight session of losses due to selling in realty, IT and auto counters.

The 30-share BSE Sensex declined by 200.85 points or 0.27 per cent to close at 73,828.91 with 22 of its constituents ending lower and eight with gains. The index opened higher and hit a high of 74,401.11 in the late morning session.

However, it failed to hold onto gains due to persistent selling in select bluechips and shed 259.17 points or 0.35 per cent to hit a low of 73,770.59 later.

The NSE Nifty fell 73.30 points or 0.33 per cent to settle at 22,397.20. In the session, the benchmark declined by 93.15 points or 0.41 per cent to hit an intraday low of 22,377.35.

The Nifty 50 fell 0.69% in the holiday-shortened week to 22,397.2, while the Sensex lost 0.68% to 73,828.91.

On Thursday, the indexes fell about 0.3% each, their third straight day of loss.

Indian markets will be closed on Friday for a local holiday.

The blue-chip indexes had jumped about 2% in the previous week, marking their best performance in three months.

In broader markets, the BSE smallcap gauge fell 0.62 per cent, while midcap index declined 0.77 per cent.

Among the sectoral indices, Realty, Auto, Consumer Discretionary, Metal, Services, Commodities, Consumer Durables, Teck, IT, Focussed IT, Energy were among the laggards.

Bankex and Power were the gainers.

As many as 2,457 stocks declined while 1,518 advanced and 130 remained unchanged on the BSE.

The market capitalisation of BSE-listed firms declined by ₹1,71,623.67 crore to ₹3,91,12,994.41 crore (USD 4.49 trillion).

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts, consider individual risk tolerance, and conduct thorough research before making investment decisions, as market conditions can change rapidly, and individual circumstances may vary.