MUMBAI, India — Indian equity markets ended lower for the fifth consecutive session on Friday as sustained foreign investor outflows, global uncertainty, and renewed concerns over India-U.S. trade negotiations weighed on investor sentiment.
At the close of trading, the Sensex dropped 605 points, or 0.72 percent, to settle at 83,576, while the Nifty fell 193.5 points, or 0.75 percent, to close at 25,683.
Markets remained under pressure ahead of a U.S. Supreme Court ruling on the legality of American tariffs and the release of India’s December inflation data, scheduled for Monday. The benchmark indices slipped to their lowest levels in more than two months, with the Nifty falling below the key psychological mark of 25,700.
The Nifty opened at 25,840, rose to an intraday high of 25,940, but later faced selling pressure and profit booking, slipping to an intraday low of 25,648.
Sentiment was further dampened after U.S. President Donald Trump approved a sanctions bill that could impose tariffs of up to 500 percent on countries purchasing Russian oil, adding to global trade-related concerns.
ONGC and Bharat Electronics were among the notable gainers on the Nifty, providing limited support to the index.
On the sectoral front, Nifty Realty emerged as the biggest loser, declining 2.12 percent. Most sectoral indices ended in the red, with auto stocks down 1.11 percent and FMCG and consumer durables slipping 1.17 percent each. Only IT, PSU banks, and oil and gas stocks managed to close higher.
The broader markets mirrored the weakness in benchmark indices. The Nifty Midcap 100 index fell 0.69 percent, while the NSE Smallcap 100 declined 0.79 percent.
Market analysts said equities are likely to trade within a range with a mixed bias amid heightened geopolitical risks. They added that domestic GDP growth is expected to remain strong and third-quarter earnings could show signs of recovery led by midcap companies, which may help stabilize investor sentiment.
Meanwhile, the rupee weakened by 22 paise to close at 90.11 against the U.S. dollar, pressured by falling equities and continued selling by foreign institutional investors. (Source: IANS)
