MUMBAI– Indian stock markets closed sharply lower on Friday, weighed down by broad-based selling across sectors and sustained foreign institutional investor (FII) outflows amid rising concerns over U.S. tariffs on Indian exports.
The benchmark Sensex ended the day at 79,857.79, down 765.47 points or 0.95 percent. The 30-share index opened lower at 80,478.01, compared to the previous close of 80,623.26, and hit an intraday low of 79,775—its lowest level in three months.
The Nifty 50 also declined, ending at 24,363.30, down 232 points or 0.95 percent.
“The Indian equity market moved lower, closing at a three-month low, driven by growing concerns over the impact of U.S. tariffs on Indian exports,” said Vinod Nair, Head of Research at Geojit Financial Services. “Foreign institutional investors continued to be net sellers, adding to the downward pressure.”
Losses were widespread, with real estate and metal stocks hit hardest. Analysts noted that some global financial institutions have started revising India’s economic outlook downward due to the potential long-term impact of the tariff situation.
Among the biggest losers on the Sensex were Bharti Airtel, Tata Motors, Mahindra & Mahindra, Kotak Mahindra Bank, Reliance Industries, Axis Bank, Asian Paints, UltraTech Cement, HDFC Bank, Tata Steel, Bharat Electronics (BEL), and Infosys. Only a few stocks, including NTPC and Titan Company, ended in positive territory.
Broader markets were also under pressure. The Nifty Next 50 declined 823 points or 1.24 percent, Nifty 100 fell 516 points or 1 percent, Nifty Midcap 100 dropped 936 points or 1.64 percent, and Nifty Smallcap 100 lost 264 points or 1.49 percent.
Among sectoral indices, Nifty Bank dropped 516 points or 0.93 percent, Nifty Financial Services fell 236 points or 0.9 percent, Nifty IT slipped 328 points or 0.95 percent, and Nifty Auto declined 333 points or 1.40 percent.
“The bears resumed control after a brief pause in the previous session,” said Nilesh Jain of Centrum Broking. “Nifty has now extended its losing streak to a sixth consecutive week and slipped below its 100-day moving average (DMA) at 24,500, which now acts as immediate resistance.”
Jain added that the 200-DMA, currently placed around 24,050, could offer near-term support. He warned that the overall trend remains weak as long as the index trades below 24,800, and any recovery may face renewed selling pressure.
The market turmoil follows U.S. President Donald Trump’s recent announcement of a 50 percent tariff on imports from India. Trump also threatened further tariff hikes if India continues to import oil from Russia. (Source: IANS)
