MUMBAI — Indian equity markets ended sharply lower on Friday, slipping in line with weak global cues that weighed on investor sentiment and triggered broad-based selling across sectors.
The Sensex dropped 400.76 points, or 0.47 percent, to close at 85,231.92. The Nifty slid 124 points, also 0.47 percent, finishing at 26,068.15. Market breadth remained negative throughout the session, with selling pressure visible in large-cap, mid-cap and small-cap stocks alike.
Analysts said the key support zone remains between 26,000 and 25,900 on the Nifty. “A decisive close above 26,200 remains the crucial trigger for the next leg of the uptrend, potentially unlocking targets of 26,277 and 26,300,” they noted.
Among the major gainers on the BSE were Maruti Suzuki, Tata Motors’ passenger vehicle division, Mahindra & Mahindra and Asian Paints. Top laggards included Tata Steel, HCLTech, Bajaj Finance, Bajaj Finserv and Eternal.
Sectorally, metal stocks saw the steepest decline, with the Nifty Metal index slipping 2.34 percent. Nifty Realty dropped 1.86 percent, while Nifty PSU Bank shed 1.43 percent. Nifty FMCG was the lone sector to end in positive territory, inching up 0.14 percent.
The broader market also reflected the downturn. The Nifty Midcap 100 fell 1.13 percent, and the Nifty Smallcap 100 declined 1.22 percent as profit-taking intensified following a two-day rebound.
Market participants said Indian equities mirrored weakness across Asian markets after stronger-than-expected U.S. non-farm payrolls dampened expectations of a December rate cut. Sentiment was further pressured by a soft manufacturing PMI print, a weakening rupee, and concerns over potential delays in India–U.S. trade discussions.
Analysts added that profit-booking and caution ahead of key global events contributed to the decline, pulling all major indices into the red. (Source: IANS)
