MUMBAI, India — Indian equity markets ended sharply lower on Friday, extending losses for a second straight session as global concerns over artificial intelligence–driven disruption weighed heavily on investor sentiment.
The Sensex fell 1,048 points, or 1.25%, to close at 82,626, while the Nifty dropped 336 points, or 1.30%, to finish at 25,471.
The decline was broad-based, with worries mounting that rapid advances in artificial intelligence could challenge India’s traditional outsourcing-led growth model. Broader markets tracked the benchmarks lower, with the Nifty Midcap 100 sliding 1.71% and the NSE Smallcap 100 falling 1.79%.
All sectoral indices ended in the red. Metal stocks led the losses, with the Nifty Metal index plunging 3.31%. Realty stocks followed, declining 2.23%. The Nifty Next 50 index fell 1.56% amid heavy selling pressure.
The Nifty IT index, which had dropped more than 4% during the session, recovered over 1,000 points from the day’s low but still ended down 1.44%. The FMCG index lost 1.90%, while banking and midcap stocks also came under pressure.
Market breadth remained decisively negative, with 44 of the 50 stocks in the Nifty closing lower.
In currency markets, the rupee traded slightly weaker, slipping 6 paise to 90.61 against the U.S. dollar. The dollar index was largely flat near 97, contributing to a range-bound trading environment, market participants said.
Analysts noted that defensive sectors showed relative resilience but were unable to counter the widespread selling pressure, reflecting a cautious and risk-averse mood among investors.
Technically, the Nifty opened with a gap-down and moved below its key 21-day, 50-day, and 100-day moving averages, located at 25,480, 25,770, and 25,690, respectively. On the downside, the index appears to be attempting to fill last week’s gap.
“Bank Nifty slipped below a short-term consolidation range, indicating minor profit booking after the recent up move,” said Vatsal Bhuva, technical analyst at LKP Securities. “However, the index continues to trade above its 20-day moving average near 59,700, which remains a crucial short-term support.” (Source: IANS)
