The Nifty50 on Friday saw a gap-down start but avoided further fall to eventually end up making an indecisive Doji candle on the daily chart.The index has been trading below its key moving averages now. While a small bounce can't be ruled out, the ongoing pain in the market is unlikely to ease in the near future. A bear candle on the weekly charts, the fourth week in a row is emphasising the bear domination in the market. Stock markets throughout the globe have become extremely fragile due to increasing inflation, central bank rate hikes have spooked Indian investors. Downward movement to continue in coming sessions.Tracking sharp losses in the US markets overnight and Asian stocks this morning, Indian benchmark indices tanked 1.5% on Friday. The BSE Sensex fell over 1,000 points to 54,668, while the NSE Nifty 50 shed 316 points to 16,366. All frontline stocks were in the red. In the broader markets, the BSE MidCap and SmallCap indices fell up to 2.2%. Sectorally, Nifty consumer durables, realty, IT, auto, financials, and metals were down 2-3%. Stock markets throughout the globe have become extremely fragile due to increasing inflation, central bank rate hikes have spooked Indian investors. Investors must stay with quality stocks with good growth outlook.Reliance Retail’s net profit for the January-March quarter declined 4.8 per cent to Rs 2,139 crore, while its EBIDTA increased 2.4 per cent to Rs 3,705 crore in the same period. The country’s largest retailer cash profit for the quarter rose 3.8 per cent to Rs 2,878 crore.