BIZ DESK
Benchmark domestic equity indices today ended in negative territory amid a broad-based sell-off, extending their downward trend to the eighth straight session. The broader market indices at BSE ended with deeper cuts.
The 30-share index at the Bombay Stock Exchange, Sensex, fell 200 points, or 0.26 percent, to close at 75,939. Similarly, the National Stock Exchange Nifty-50 shed 102 points, or 0.44 percent, to settle at 22,929.
Friday’s fall came on the back of an across-the-board sell-off in the broader markets that saw midcaps, too, end weak. The Nifty Midcap 150 index lost nearly 2.5 per cent in trade on Friday to close at 18,325.40 levels, NSE data showed.
Pharma stocks came under selling pressure amid reciprocal tariff threats from the US on Thursday. Natco Pharma and Laurus Labs were among the top losers in this space that slipped over 9 per cent each. These two counters also form a part of the Nifty Smallcap 100 index. IFCI, Glenmark Pharma, Finolex Cables, HFCL, BEML and Apar Industries are some of the other counters that comprise this index and skidded over 7 per cent on Friday. Sensex, Nifty recover from day’s low
Frontline indices, however, survived the day with minimal losses, recovering from intra-day lows towards in post noon deals. The S&P BSE Sensex closed around 200 points lower at 75,939 levels. The index had hit an intra-day low of 75,439 levels before buying at lower levels in bluechips helped stem losses.
On the NSE, the Nifty 50 index shed 102 points to 22,929 levels. Adani Ports, BEL, Adani Enterprises, Trent, Grasim, Bajaj Auto, Hero MotoCorp and Sun Pharma were some of the top Nifty50 losers that ended 2.5 per cent to 5 per cent lower on Friday.
India stock market capitalisation, meanwhile, dropped below the $4-trillion mark for the first time in more-than-14 months, bogged down by a weak rupee against the US dollar.
In the Forex market, the rupee today appreciated by eight paise to settle at 86 rupees and 82 paise against the US dollar. In the Indian Bullion Market, 24 Karat Gold was trading at 86,100 rupees per 10 grams, and Silver 999 Fine was trading at 98,010 rupees per kilogram, a short while ago. Brent Crude was trading at 75 dollars and 61 cents per barrel, and WTI Crude was trading at around 71 dollars and 77 cents per barrel when reports last came in.