India’s benchmark stock indices fell during midday on Friday after the Nifty set a fresh lifetime high and the Sensex was 30 points from its record high. This was due to the decline of index heavyweight Reliance Industries Ltd.
At 13:16 p.m., the NSE Nifty 50 fell 234.9 points, or 1.04%, to 22,413.30, while the S&P BSE Sensex was trading 927.63 points, or 1.24%, lower at 73,683.48.
Nifty has been on a structural bull run, according to Amit Goel, founder of Amit Ventures, who recommends using every dip as an opportunity.
However, he does not expect any tearaway moves in the market. He added that 22,500 will act as resistance and 22,300 as support.