Indian Equity Market Faces Significant Downturn

Today, the Indian stock market experienced a sharp decline, with the BSE Sensex falling below the 74,000 mark and the Nifty50 nearing 22,350. At 9:27 AM, the BSE Sensex was trading at 73,850.39, down by 762 points or 1.02%, while the Nifty50 was at 22,325.45, down by 220 points or 0.97%.

Global and Domestic Factors Impacting the Market

The indices are reacting to several crucial economic indicators, including US GDP data, initial jobless claims, and India's GDP growth figures. Analysts predict that the markets may continue to face pressure due to negative global indicators. Osho Krishnan, Sr. Analyst, Technical & Derivatives of Angel One, highlighted the importance of the support level at 22500-22400 for the Nifty50 index in the near future.

US and Asian Markets Also Decline

US markets saw a significant downturn on Thursday, with technology stocks leading the decline. Asian equity markets followed suit on Friday, influenced by disappointing performance from Nvidia Corp., new US tariff specifics, and varied economic indicators.

Investor Activity and Future Outlook

Foreign portfolio investors sold net Rs 556 crore on Thursday, while domestic institutional investors purchased shares worth Rs 1,727 crore. The net short position of FIIs decreased from Rs 1.99 lakh crore on Tuesday to Rs 1.73 lakh crore on Thursday. Investors are closely watching the market for any signs of rebound or further decline.