NEW DELHI– Indian stock markets ended in the red on Friday, pressured by rising global trade tensions and disappointing corporate earnings. The benchmark indices declined sharply after U.S. President Donald Trump announced fresh tariffs on Canadian imports, rattling investor sentiment worldwide.
Adding to the negative mood, Tata Consultancy Services (TCS) reported weaker-than-expected results for the first quarter of FY25, triggering a broad sell-off in IT stocks.
The Sensex fell 689.81 points, or 0.83%, to close at 82,500.47, while the Nifty declined 205.4 points, or 0.81%, to end at 25,149.85.
“The domestic market experienced a negative close due to a sober start to the Q1 earnings season and a ramp-up in the tariff threat by the U.S. to impose a 35% tariff on Canada,” said Vinod Nair, Head of Research at Geojit Financial Services.
“Investors may still adopt a buy-on-dips approach based on quarterly earnings, but the combination of premium valuations and global uncertainties could limit fresh inflows in the near term,” he added.
Among the Sensex constituents, TCS, Mahindra & Mahindra, Tata Motors, Bharti Airtel, HCL Technologies, and Titan were the major laggards, falling up to 3.5%. On the other hand, Hindustan Unilever, Axis Bank, Sun Pharma, NTPC, and Eternal were among the top gainers.
Broader market indices also took a hit. The Nifty MidCap index dropped 0.88%, while the Nifty SmallCap index lost 1.02%.
Sector-wise, IT and auto stocks were the hardest hit, with both the Nifty IT and Nifty Auto indices down nearly 1.8% each. Realty, oil & gas, media, energy, banking, metal, and consumer durables sectors also ended lower.
However, FMCG and pharmaceutical stocks offered some cushion to the market, with both the Nifty FMCG and Nifty Pharma indices closing in the green.
“The session began on a weak note after TCS’ earnings miss and saw profit-booking across several heavyweight counters,” said Ajit Mishra, SVP of Research at Religare Broking. “Uncertainty around tariffs and a sluggish start to the earnings season kept overall sentiment cautious.”
Market volatility also ticked higher. The India VIX, which tracks market fear and volatility, rose 1.24% to end at 11.81. (Source: IANS)
