Indian equity benchmarks ended lower for the fourth consecutive session on Friday, with the Nifty slipping below the 25,700 mark amid weak global cues and cautious investor sentiment.
The Sensex declined 604.72 points, or 0.72 per cent, to close at 83,576.24, while the Nifty fell 193.55 points, or 0.75 per cent, to settle at 25,683.30.
Sectorally, PSU banks, oil and gas, IT, public sector enterprises and metal stocks showed relative strength. Selling pressure was seen in realty, private banks, financial services, FMCG and consumer durables.
The Indian rupee also weakened, ending 14 paise lower at 90.16 against the US dollar, compared to the previous close of 90.02.
Vinod Nair, Head of Research at Geojit Investments Limited, said the market remains in a consolidation phase due to weak global signals, rising global bond yields and continued foreign institutional investor outflows. He added that uncertainty over India-US tariff negotiations and geopolitical tensions has further weighed on sentiment, despite expectations of a positive earnings outlook for the third quarter.
Nair said domestic GDP growth is expected to remain resilient, and Q3 earnings could show recovery led by midcap stocks, which may help stabilise sentiment in the coming weeks.
Ponmudi R, CEO of Enrich Money, said Indian equities remained under pressure throughout the week due to heightened global trade uncertainty following renewed tariff-related remarks by US President Donald Trump. He noted that concerns over higher import duties have dampened risk appetite across emerging markets, including India.
He added that investors adopted a risk-off approach, with limited support from defensive sectors, as market participants awaited clearer direction on global policy developments.
From a technical perspective, Rupak De, Senior Technical Analyst at LKP Securities, said the Nifty has moved below its 50-day exponential moving average, indicating increasing weakness. He said the index could see further downside towards the 25,550–25,500 zone, while resistance is placed near 25,850.
In a separate note, Ashika Institutional Equities said investors remained cautious ahead of the release of domestic inflation data for December, scheduled for Monday. Globally, sentiment was subdued amid uncertainty over a US Supreme Court decision on the validity of American tariffs and remarks by US Commerce Secretary Howard Lutnick indicating delays in the India-US trade agreement.
On the derivatives front, market breadth remained negative, with 36 stocks advancing against 176 declines.
— ANI
