Mon May 12 04:30:00 UTC 2025: ## Indian Stock Market Takes a Dip After Period of Resilience

**MUMBAI, INDIA** – Despite initially weathering concerns surrounding the India-Pakistan border tensions, the Indian stock market experienced a significant sell-off last week. On Friday, the Nifty 50 index plummeted 265 points (1.1%) to close at 24,008, while the BSE Sensex fell 880 points (1.1%), marking its steepest intraday decline since April 7.

Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher, noted that support for the Nifty 50 has shifted to 23,800, with resistance at 24,400. She indicated that a decisive break above 24,400 would signal a bullish trend, while a fall below 23,800 would confirm a bearish trend. The Bank Nifty index also suffered losses, closing near 53,600 after breaching the 54,000 support level.

Parekh offered buy recommendations for three stocks: Protean eGov Technologies (buy at ₹1269, target ₹1320, stop loss ₹1230), MMTC (buy at ₹52, target ₹56, stop loss ₹50), and GRSE (buy at ₹1799, target ₹1900, stop loss ₹1730).

**Disclaimer:** *This information is based on the analysis of individual analysts and should not be considered investment advice. Consult with a certified financial expert before making any investment decisions.*

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