Mumbai– Indian equity indices closed in the red Friday as selling in heavyweights, led by Reliance, dragged the market lower. Investors remained cautious over U.S. tariff concerns, keeping trading largely range-bound before a late-session decline.
The Sensex ended at 79,809.65, down 270.92 points or 0.34 percent. The 30-share index opened nearly flat at 80,010.83 against the previous close of 80,080.57, trading sideways for much of the day before slipping in the final hour to an intra-day low of 79,741.76.
The Nifty settled at 24,426.85, down 74.05 points or 0.30 percent.
“Investor sentiment remained cautious as markets attempted to digest the full impact of the U.S. tariff. The persistence of this issue is likely to heighten the future competitiveness of India’s exports in some areas,” said Vinod Nair, Head of Research at Geojit Financial Services.
He noted that while pressure is also likely to weigh on the rupee, leading to further depreciation, equity benchmarks underperformed as mid- and small-cap segments faced risk aversion and stretched valuations. In contrast, FMCG stocks extended gains, supported by expectations of GST rate rationalization and stronger consumer demand.
From the Sensex basket, Mahindra & Mahindra, Reliance, Infosys, Tata Motors, NTPC, Tech Mahindra, HDFC Bank, Titan, and Axis Bank closed lower. ITC, BEL, L&T, Tata Steel, PowerGrid, Sun Pharma, and HCL Tech were among the top gainers.
Sectoral performance was mixed. Nifty Financial Services slipped 72.60 points or 0.28 percent, Nifty Bank fell 164 points or 0.31 percent, Nifty Auto dropped 222 points or 0.88 percent, and Nifty IT declined 307 points or 0.87 percent. On the upside, Nifty FMCG surged 528 points or 0.95 percent.
The broader indices also weakened. Nifty Smallcap 100 fell 67 points or 0.39 percent, Nifty Midcap 100 declined 320 points or 0.57 percent, and Nifty 100 ended 75 points or 0.30 percent lower.
“The rupee hit an all-time low of 88.20, falling by another 0.60 (0.70 percent), as pressure mounted after the U.S. implemented tariffs on Indian products, raising concerns over a widening fiscal deficit. While the upcoming GST council decision is expected to lend some support, markets are awaiting clarity on the final GST changes before taking a decisive view. Sentiment remains weak, and the rupee is expected to trade within a range of 87.65–88.45,” said Jateen Trivedi of LKP Securities. (Source: IANS)
