Benchmark stock market indices recovered from earlier losses to finish lower on Friday, with IT, FMCG, and consumer durable sector stocks leading the decline. The S&P BSE Sensex closed down 94.73 points at 83,216.28, while the NSE Nifty50 dropped 17.40 points to settle at 25,492.30.
Vinod Nair, Head of Research at Geojit Investments Limited, mentioned that the domestic stock market bounced back from initial declines with buying interest seen at crucial support levels. However, the sustainability of this rebound remains uncertain due to mixed earnings, global cautiousness, and continuous FII outflows.
Certain market segments were supported by Q2 results, with broader indices showing strength, particularly in financials, notably PSU banks, due to growing investor interest driven by speculation regarding an FDI cap increase and sector consolidation. The market outlook will be influenced by developments in the US shutdown, tariff-related matters, and agreements between the US and India and US and China, to evaluate the strength of the current market momentum.
Top gainers on the BSE Sensex included Bajaj Finance, Tata Steel, Mahindra & Mahindra, Bajaj Finserv, ICICI Bank, and Bharat Electronics. Conversely, Bharti Airtel, Tech Mahindra, Reliance Industries, Trent, and UltraTech Cement were among the worst performers.
By the closing bell, the Nifty Midcap 100 index increased by 0.63%, while the Nifty Smallcap 100 declined by 0.16%. The India VIX, a measure of volatility, rose by 1.18%.
Across sectoral indices, Nifty Auto, Nifty Financial Services 25/50, Nifty Metal, Nifty Pharma, Nifty PSU Bank, and Nifty Private Bank posted gains, while Nifty FMCG, Nifty IT, Nifty Media, Nifty Realty, Nifty Healthcare Index, Nifty Consumer Durables, and Nifty Oil and Gas finished in negative territory.
Ajit Mishra, SVP of Research at Religare Broking Ltd., noted that market participants are cautious amid global challenges and lack of significant domestic triggers. Soft earnings and profit-taking in previously strong sectors added pressure to sectoral indices.
[Disclaimer: The opinions expressed by experts/brokerages in this article are personal and do not represent the views of the India Today Group. It is advisable to seek advice from a qualified broker or financial advisor before making investment decisions.]
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