Rupee Weakness, FII Selling Drag Indian Markets; Technicals Hint Rebound

• Indian markets closed 0.53% lower due to foreign institutional investor selling and a weakening rupee.
• FIIs pulled out Rs 9,201.89 crore this week, bringing December's total outflows to Rs 19,605.61 crore.
• Defence, media, PSU banking, IT, and FMCG sectors faced selling pressure, while metal and consumer durables saw gains.
• US markets reached all-time highs following the Federal Reserve's third consecutive interest rate cut.
• Nifty indicators suggest an oversold market with potential for short-term upside, with Nifty IT showing improved momentum.

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