The Indian stock market ended Friday on a weak note, with benchmark indices closing lower amid broad-based selling pressure, particularly in the IT sector. The S&P BSE Sensex fell 182 points to 81,451.01, while the NSE Nifty50 dropped 82.90 points to close at 24,750.70.
Here’s a quick breakdown of the market action:
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IT Stocks Drag Markets Down: Major IT firms led the declines, with Tech Mahindra falling 1.78%, HCL Technologies down 1.64%, Infosys slipping 1.43%, and other tech stocks under pressure, contributing significantly to the negative market sentiment.
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Sector Performance:
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The worst hit was the Nifty Metal index, which tumbled 1.69%, followed by Nifty IT (-1.15%) and Nifty Auto (-0.98%).
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Other sectors also fell, including Consumer Durables (-0.76%), Oil & Gas (-0.76%), Healthcare (-0.71%), Pharma (-0.68%), Realty (-0.66%), FMCG (-0.62%), Private Bank (-0.19%), and Financial Services (-0.15%).
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The Nifty Midcap100 and Smallcap100 indices declined marginally by 0.06% and 0.03%, respectively.
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India VIX, the volatility index, eased 2.08%, suggesting slightly reduced market volatility.
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Bright Spots:
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Nifty PSU Bank bucked the downtrend, surging 2.88%, emerging as the day’s biggest gainer.
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Nifty Media was nearly flat, up by 0.01%.
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Among Sensex stocks, Eternal Company led with a 4.58% gain, followed by State Bank of India (1.89%), HDFC Bank (0.81%), Larsen & Toubro (0.64%), and Reliance Industries (0.24%).
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Market Sentiment: Vinod Nair, Head of Research at Geojit, noted that the market remained range-bound amid uncertainty caused by the temporary reinstatement of US tariffs, keeping investors cautious. Global macroeconomic concerns and an unsettled trade environment are contributing to short-term consolidation. Meanwhile, foreign institutional investors (FIIs) continued inflows, supported by volatility in US 10-year yields and expectations of a solid domestic Q4 GDP report and a possible RBI rate cut.
In summary, IT and metal stocks faced heavy selling pressure, while PSU banks provided relief amid a cautious market mood ahead of key economic data and policy signals.
Would you like me to track how this market sentiment might influence the week ahead or dive deeper into specific sector outlooks?
