The benchmark stock market indices continued their downward trend for the fourth consecutive session on Friday, experiencing a substantial decline in the shares of pharmaceutical firms.
The S&P BSE Sensex concluded the day 221.09 points lower, settling at 66,009.15, while the NSE Nifty 50 wrapped up the session with a 68.10-point drop, closing at 19,674.25. Most of the broader market indices followed suit by ending the day in negative territory, except for the Nifty Smallcap 100, which managed to eke out a 0.26 per cent gain.
Among the sectoral indices, the Nifty PSU Bank emerged as the top gainer, posting a notable 3.51 per cent increase. Meanwhile, Nifty Auto was the only other sectoral index that ended the day in positive territory, benefiting from the rise in Mahindra and Mahindra shares.
The leading performers on the Nifty 50 included IndusInd Bank, Maruti, SBI, Mahindra and Mahindra, and Asian Paints. Conversely, the top losers featured Wipro, Dr Reddy's, UPL, Cipla, and Bajaj Auto.
Over the past four sessions, domestic markets have displayed a weakening trend, marking their first weekly loss in four weeks. This downturn comes amid renewed concerns regarding a potential interest rate hike in the United States, impacting the stocks of IT and pharmaceutical companies, which rely heavily on the US market.
