Mumbai– Indian equities closed lower on Friday as selling in index heavyweights, led by Reliance, dragged the benchmarks down. Investor sentiment stayed cautious with U.S. tariff concerns keeping markets on edge.
The Sensex ended at 79,809.65, down 270.92 points or 0.34 per cent. The 30-share index opened flat at 80,010.83 against the previous close of 80,080.57, traded range-bound through much of the session, and slipped in the final hour to touch an intra-day low of 79,741.76.
The Nifty settled at 24,426.85, down 74.05 points or 0.30 per cent.
“Investor sentiment remained cautious as markets attempted to digest the full impact of the U.S. tariff. The persistence of this issue is likely to heighten the future competitiveness of India’s exports in some areas,” said Vinod Nair, Head of Research at Geojit Financial Services.
He added that while the pressure is also likely to weigh on the rupee, equity benchmarks underperformed, with mid- and small-caps particularly affected by risk aversion and stretched valuations. In contrast, FMCG stocks sustained their upward momentum, supported by expectations of GST rate rationalisation and stronger consumer demand.
Among Sensex constituents, Mahindra & Mahindra, Reliance, Infosys, Tata Motors, NTPC, Tech Mahindra, HDFC Bank, Titan, and Axis Bank closed in the red. ITC, BEL, L&T, Tata Steel, PowerGrid, Sun Pharma, and HCL Tech were among the top gainers.
Sectoral indices posted a mixed performance. Nifty Financial Services fell 72.60 points or 0.28 per cent, Nifty Bank slipped 164 points or 0.31 per cent, Nifty Auto declined 222 points or 0.88 per cent, and Nifty IT dropped 307 points or 0.87 per cent. Nifty FMCG rose 528 points or 0.95 per cent.
Broader markets mirrored the weakness. Nifty Smallcap 100 lost 67 points or 0.39 per cent, Nifty Midcap 100 fell 320 points or 0.57 per cent, and Nifty 100 declined 75 points or 0.30 per cent.
“The rupee hit an all-time low of 88.20, falling by another 0.60 (0.70 per cent), as pressure mounted after the U.S. implemented tariffs on Indian products, raising concerns over a widening fiscal deficit,” said Jateen Trivedi of LKP Securities.
“While the upcoming GST Council decision is expected to lend some support, markets are awaiting clarity on the final GST changes before taking a decisive view. Sentiment remains weak, and the rupee is expected to trade within a range of 87.65–88.45,” he added. (Source: IANS)
