BIZNAMA
Indian equity benchmarks ended a volatile Friday with little change, as gains in some sectors were balanced by profit-taking in others. After swinging between gains of 0.4% and losses of 0.5% throughout the day, the NSE Nifty 50 closed up a marginal 0.03% at 24,741, while the BSE Sensex slipped 0.01% to 80,710.76.
Despite the flat finish on Friday, both indexes posted weekly gains, fueled by recent tax cuts. The Nifty 50 advanced 1.3% for the week, and the Sensex rose 1.1% after the GST Council reduced levies on everyday goods.
Sectoral Performance and Key Movers
Automobile stocks were the clear winners this week, with the sector leading the market’s gains after the GST Council’s decision. Among the top performers on the Sensex were Mahindra & Mahindra, which climbed 2.34%, and Maruti, which rose 1.70%. Other notable gainers included Power Grid, Reliance Industries, Bharti Airtel, and Eternal.
Conversely, the information technology (IT) sector experienced a significant downturn, dropping 1.6% for the week. This slide was a major factor in offsetting broader market advances. IT majors such as HCL Tech, Tata Consultancy Services, Tech Mahindra, and Infosys were among the laggards on Friday.
Consumer stocks, which had been on a five-day winning streak, also pulled back, slipping 1.4% on Friday. This was largely due to a 2.1% drop in ITC following reports that the government might impose a new levy on tobacco products.
Rupee Hits Record Low
Adding to the day’s concerns, the Indian rupee depreciated by 15 paise to close at a provisional all-time low of ₹88.27 against the US dollar. This decline was attributed to a combination of sustained outflows of foreign funds and fears of potential new US tariffs against India.
