AMN / WEB DESK
Indian equity benchmarks closed in the red on Friday, weighed down by selling in index heavyweights and lingering concerns over fresh US tariffs on Indian exports. The Sensex fell 270.92 points to end at 79,809.65, while the Nifty 50 slipped 74.05 points to settle at 24,426.85, marking a third straight session of losses.
Investor sentiment remained cautious as markets assessed the potential impact of US tariff hikes on key Indian sectors including textiles, gems, and leather. The rupee also came under pressure, hitting a record low of ₹88.20 against the US dollar, down 0.70%, amid fiscal deficit concerns and foreign fund outflows.
“Risk aversion and stretched valuations particularly weighed on mid- and small-cap stocks, while FMCG shares continued to see buying interest,” said Vinod Nair, Head of Research at Geojit Financial Services.
Sectoral Snapshot
Market performance was mixed across sectors:
- Nifty FMCG: ↑ 0.95% — buoyed by hopes of GST rate rationalisation and resilient consumer demand
- Nifty Auto: ↓ 0.88% — dragged by Mahindra & Mahindra and Tata Motors
- Nifty IT: ↓ 0.87% — Infosys and Tech Mahindra led declines amid global tech uncertainty
- Nifty Bank: ↓ 0.31% — Axis Bank and HDFC Bank underperformed
- Nifty Financial Services: ↓ 0.28% — impacted by valuation concerns
Broader Market Moves
- Nifty Midcap 100: ↓ 0.57%
- Nifty Smallcap 100: ↓ 0.39%
- Nifty 100: ↓ 0.30%
Top Movers
Decliners: Reliance Industries, Mahindra & Mahindra, Infosys, Tata Motors, NTPC, Tech Mahindra, HDFC Bank, Titan, Axis Bank
Gainers: ITC, BEL, L&T, Tata Steel, Power Grid, Sun Pharma, HCL Tech
Currency & Outlook
“The widening fiscal deficit is likely to add further strain. While the upcoming GST Council decision may provide some relief, traders are expected to stay cautious until clarity emerges on final rate changes,” said Jateen Trivedi, VP Research at LKP Securities. The rupee is expected to trade in the range of ₹87.65–₹88.45 in the near term.
