NEW DELHI— Indian stock markets closed in the red on Friday, pressured by rising global trade tensions following new tariffs imposed by U.S. President Donald Trump on Canadian imports. Weak earnings from Tata Consultancy Services (TCS) further dampened investor sentiment, particularly in the IT sector.
The benchmark Sensex fell 689.81 points, or 0.83%, to settle at 82,500.47. Meanwhile, the Nifty 50 declined 205.4 points, or 0.81%, to close at 25,149.85.
“The domestic market ended lower due to a weak start to the Q1 earnings season and growing global trade concerns, especially the U.S. move to impose a 35% tariff on Canadian goods,” said Vinod Nair, Head of Research at Geojit Financial Services.
Nair noted that while investors may adopt a buy-on-dips strategy during earnings season, high valuations and ongoing global headwinds—such as reduced consumer spending and tariff uncertainty—could limit fresh inflows in the short term.
Among the 30 Sensex stocks, the biggest losers included TCS, Mahindra & Mahindra, Tata Motors, Bharti Airtel, HCL Technologies, and Titan, with losses of up to 3.5%.
On the flip side, Hindustan Unilever, Axis Bank, Sun Pharma, NTPC, and Eternal emerged as top gainers, providing limited support to the indices.
Broader market indices also declined. The Nifty MidCap index dropped 0.88%, while the Nifty SmallCap index lost 1.02%.
Sectorally, IT and auto stocks took the hardest hit. Both the Nifty IT and Nifty Auto indices fell nearly 1.8% each, with TCS’s underwhelming Q1 results weighing heavily on the IT sector.
Other segments including real estate, oil and gas, media, energy, banking, metals, and consumer durables also closed in negative territory. However, FMCG and pharmaceutical stocks showed resilience, with the Nifty FMCG and Nifty Pharma indices posting gains.
“Markets remained under pressure throughout the session, losing more than half a percent due to weak global cues and disappointing earnings,” said Ajit Mishra, SVP – Technical Research at Religare Broking. “The day began on a soft note following TCS’s results and deteriorated further due to profit booking in heavyweights across sectors.”
Mishra added that overall market sentiment remained subdued amid concerns over fresh tariffs and a lackluster start to the earnings season.
Market volatility edged up slightly, with the India VIX rising 1.24% to close at 11.81, signaling increased nervousness among investors. (Source: IANS)
