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Nifty formed a small negative candle, indicating continued narrow range movement. The underlying trend remains choppy. Support at 24,920 and 24,750. Resistance at 25,000-050 and 25,250-275. Bears are in control, using pullback rallies to create short positions.

Realty firm Arkade Developers Ltd, which got listed on the stock exchanges recently, has reported a more than four-fold jump in its consolidated net profit to Rs 30.21 crore for the first quarter of this fiscal year. Its profit stood at Rs 6.57 crore in the year-ago period.

Indian benchmark indices ended Friday in the red, registering their third straight loss dragged by auto and bank stocks.

Short covering occurs when traders buy back previously sold short shares, often leading to a price increase. Five stocks saw short covering on Friday, resulting in a decrease in open interest.

Cryptocurrency markets edged higher on Friday, supported by expectations of a Fed rate cut and awaiting PPI data. Bitcoin was up 0.2% at $60,898, and Ethereum gained 1.3% to $2,412.

Headline equity indices Sensex and Nifty50 ended lower on Friday, dragged down by losses in banking, auto, and IT major Tata Consultancy Services (TCS), which posted a weaker-than-expected quarterly profit.

The Indian rupee fell below 84 per dollar for the first time on Friday, pressured by concerns about the recent spike in oil prices and the exodus of foreign money from the equity market.

A high EV to MCAP ratio suggests increased financial risk. Five Nifty 500 companies have a high EV to MCAP ratio, indicating potential financial risks and valuation concerns.

A moderate EV to market cap ratio reflects a well-balanced financial structure.

The Indian central bank likely intervened to curb a sharp decline in the rupee, which touched a low of 84.07 per dollar. Large state-run banks sold dollars to manage the exchange rate amid strong demand from oil companies and foreign banks. Benchmark Indian equity indices were also down.