New Delhi, May 8 -- The Indian stock market benchmarks ended lower on Thursday due to profit booking in select heavyweights. The Nifty 50 closed at 24,326.65, down 4 points.

On Friday, 8 May, the market may see some selling pressure amid weak global cues, a fresh clash in the Strait of Hormuz, and a rebound in crude oil prices.

Ajit Mishra, SVP of Research at Religare Broking, highlighted that Nifty continues to face a lack of momentum on the upside due to the resistance posed by key moving averages (100 and 200 DEMA) in the 24,550-24,750 zone.

However, Mishra added that the noticeable traction across sectors is offering ample trading opportunities.

"We reiterate our preference for a stock-specific approach across sectors, while remai...