By: The Trek News Desk
Indian equity markets witnessed a sharp downturn on Friday, with benchmark indices closing more than 1 per cent lower following heavy selling pressure across sectors. Metal, IT, and commodity stocks led the decline, while weak global cues further dampened investor sentiment.
The 30-share BSE Sensex dropped 1,048.16 points, or 1.25 per cent, to settle at 82,626.76. During the trading session, the index plunged more than 1,140 points to hit an intraday low of 82,534.55.
Similarly, the 50-share NSE Nifty declined 336.10 points, or 1.30 per cent, ending the day at 25,471.10. It touched an intraday low of 25,444.30 after falling over 362 points.
Among the biggest drags on the Sensex were Hindustan Unilever, Titan Company, Tata Steel, Adani Ports, Tata Consultancy Services, Reliance Industries, HDFC Bank, and HCL Technologies.
On the positive side, Bajaj Finance and State Bank of India managed to close in the green.
Metal stocks also witnessed profit-booking amid a stronger dollar index. Reports suggesting Russia’s return to the U.S. dollar settlement system fuelled expectations of potential sanction relief, sparking concerns over pricing pressures for metal companies.
In Asia, indices such as the Hang Seng Index, SSE Composite Index, Nikkei 225, and Kospi ended lower. European markets traded on a mixed note, while U.S. markets had declined by nearly 2 per cent in the previous session.
Exchange data showed that Foreign Institutional Investors (FIIs) purchased equities worth ₹108.42 crore on Thursday. Domestic Institutional Investors (DIIs) were also net buyers, investing ₹276.85 crore.
Meanwhile, global oil benchmark Brent crude rose 0.32 per cent to $67.81 per barrel.
The latest decline marks the second consecutive session of losses for Indian markets. On Thursday, the Sensex had fallen 558 points to close at 83,674.92, while the Nifty slipped 146 points to settle at 25,807.20.
Overall, a combination of global uncertainty and sector-specific concerns kept investors cautious, resulting in a broad-based market sell-off.
Source: News Agencies
