It closed on the red mark on the last trading day of the week i.e. Friday. Benchmark equity indices Sensex and Nifty fell more than 1 per cent on Friday due to widespread selling in metal, IT and commodity stocks amid sluggishness in global markets. The rupee fell 3 paise to close at 90.64 (provisional) against the US dollar on Friday.
The 30-share BSE Sensex fell 1,048.16 points or 1.25 per cent to 82,626.76. During the day, the benchmark fell 1,140.37 points or 1.36 per cent to an intraday low of 82,534.55.
The 50-share NSE Nifty fell 336.10 points or 1.30 per cent to 25,471.10. It fell 362.9 points or 1.4 percent during the day to hit a low of 25,444.30.
Nifty top 5 gainers
nifty losers
Condition of Sensex companies
Among the Sensex companies, Hindustan Unilever, Eternal, Titan, Tata Steel, Adani Ports, Tata Consultancy Services, PowerGrid, Reliance Industries, Bharat Electronics Limited, Asian Paints, Mahindra & Mahindra, HDFC Bank and HCL Technologies were major laggards. On the other hand, Bajaj Finance and State Bank of India were the only profit making companies.
What was the reason for this decline?
Vinod Nair, Head of Research, Geojit Investments Ltd, said domestic stock markets closed lower after a highly volatile session, pressured by weak global cues ahead of the upcoming US inflation data.
He said positive sentiment from the US-India trade deal has faded as renewed fears of AI-driven disruption have weighed on risk appetite, and markets are concerned that Indian IT firms relying on the labor arbitrage model may face tougher competition than other companies on the Nasdaq.
He further said that this cautious stance spread to the broader market as well, taking all major indices into negative territory and most sectors closing in the red.
Nair said profit-booking was seen in metal stocks amid a strengthening dollar index, as news of Russia returning to the US dollar settlement system raised hopes of possible sanctions relief and raised concerns over a weak recovery for metal companies.
Mixed situation in European markets
In Asian markets, Hong Kong’s Hang Seng benchmark, Shanghai’s SSE Composite index, Japan’s Nikkei 225 index and South Korea’s Kospi closed in the negative territory. European markets are trading with mixed sentiment in the middle of the session. On Thursday, the American stock market closed with a fall of up to 2 percent.
The price of Brent crude increased to US $ 67.81 per barrel.
Global oil benchmark Brent crude rose 0.32 percent to US$67.81 per barrel. Meanwhile, foreign institutional investors bought shares worth Rs 108.42 crore on Thursday, while domestic institutional investors also bought shares worth Rs 276.85 crore, according to exchange data. On Thursday, the 30-share BSE Sensex fell 558.72 points to close at 83,674.92. At the same time, the 50-share NSE Nifty fell 146.65 points and ended at 25,807.20.
