New Delhi [India], January 17 (ANI): Indian stock indices closed the week on a low, hinting that the volatility was far from over. On Friday, Sensex closed at 76,619.33 points, down 423.49 points or 0.55 per cent, while Nifty closed at 23,203.20 points, down 108.60 points or 0.47 per cent.

Nifty IT slumped the most at 2.68 per cent. Experts noted that FPI selling is continuously creating pressure on the indices. Additionally, the upcoming oath of Donald Trump is expected to make markets more volatile, as his first executive orders will be closely watched to assess follow-up actions on tariffs and taxes. "The markets remained volatile for yet another session, slipping nearly half a per cent after three consecutive days of gains. Early weakness, driven by IT and banking heavyweights reacting to earnings, pulled the benchmark indices lower. However, resilience in key players like Reliance, ITC, and LT helped limit the decline," said Ajit Mishra - SVP, Research, Religare Broking. He said persistent FII selling and a mixed start to the earnings season are restricting upward momentum.

"Until clear signs of reversal emerge, we advise maintaining a "sell on rise" strategy for the index while focusing on stock-specific opportunities during the earnings season," Mishra noted.