Buy or sell stocks, Aug. 9 -- A sharp wave of selling swept through the Indian stock market, pulling the benchmark indices down by around 1 per cent each, on Friday. The Sensex tumbled 765 points, or 0.95 per cent, to settle at 79,857.79, while the Nifty 50 declined 233 points, or 0.95 per cent, to end at 24,363.30. Among broader market indices, the BSE Midcap index fell 1.56 per cent, and the Smallcap index slipped 1.03 per cent.

Sumeet Bagadia, Executive Director at Choice Broking, believes that investor sentiment in the Indian stock market has weakened, with the Nifty 50 falling decisively below the 24,500 mark and now finding support near its 200-day exponential moving average (200-DEMA) around 24,000.

Speaking on the outlook of the...