On Friday, while the Sensex closed at 73,730.16 with a fall of 609.28 points, the Nifty closed at 22,419.95 with a fall of 150.40 points.
Vinod Nair, Head of Research, Geojit Financial Services, said an unexpected surge in the US core PCE price index, weaker than forecast GD growth and Treasury yield spikes weighed on market sentiments.
He said that investors are worried about the possibility of recession in America.
Experts say that high valuations and earnings disappointment are looming over the market.
"Indian markets lagged its Asian and European peers due to concerns over high valuations and weak Q4 earnings, leading to expectations of a decline in FY25 earnings," Nair said.
Nifty's movement may indicate a bearish reversal.
Rupak Dey, senior technical analyst at LKP Securities, said Nifty remained under selling pressure throughout the session on Friday as the index failed to hold above the crucial level of 22,500. On the daily chart, a dark cloud cover pattern is seen, indicating a possible bearish reversal.
Immediate support lies at 22,300, below which Nifty can extend its losses to 22,000. On the other hand, 22,500 level could act as technical resistance for Nifty, he said.
Vinod Nair, Head of Research, Geojit Financial Services, said an unexpected surge in the US core PCE price index, weaker than forecast GD growth and Treasury yield spikes weighed on market sentiments.
He said that investors are worried about the possibility of recession in America.
Experts say that high valuations and earnings disappointment are looming over the market.
"Indian markets lagged its Asian and European peers due to concerns over high valuations and weak Q4 earnings, leading to expectations of a decline in FY25 earnings," Nair said.
Nifty's movement may indicate a bearish reversal.
Rupak Dey, senior technical analyst at LKP Securities, said Nifty remained under selling pressure throughout the session on Friday as the index failed to hold above the crucial level of 22,500. On the daily chart, a dark cloud cover pattern is seen, indicating a possible bearish reversal.
Immediate support lies at 22,300, below which Nifty can extend its losses to 22,000. On the other hand, 22,500 level could act as technical resistance for Nifty, he said.
