Indian equity benchmarks closed Friday’s session on a weak note, extending losses as lacklustre Q1 earnings failed to lift investor sentiment. At close, the Sensex stood at 81,757.73, down 501.51 points or 0.61%, while the Nifty 50 ended at 24,968.40, losing 143.05 points or 0.57%. The Nifty Bank also slipped, finishing the day at 56,283, down by 0.96%.
“The Indian equity markets had a mixed week, with the Nifty-50 Index and Sensex falling 1% each, while small-caps gained 1.4% and mid-caps gained 1% over the past week. While macro data remained supportive, most large-cap. IT services companies disappointed versus estimates. Sector-wise, indices were mixed during the week. Indian equity markets also turned attention to the Q1FY26 earnings season, with investors having muted expectations for the season. On the macro front, (1) June CPI inflation moderated to 2.1% (May: 2.8%), (2) the goods trade deficit in June narrowed from May levels to US$18.8 bn, led by a sharp fall in oil and gold imports and (3) the services trade surplus remained steady at US$15.3 bn,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.
Here are four key takeaways from the session:
Gainers: Bajaj Finance, Tata Steel shine
A few blue-chip names bucked the trend. Bajaj Finance, Tata Steel, ICICI Bank, HCL Technologies, and Infosys were among the top gainers in the Sensex 30 pack.
Laggards: Axis Bank, Bharat Electronics under pressure
Selling was more prominent in banking and telecom names. Axis Bank was the biggest drag, slumping over 5% after a disappointing earnings reaction. Bharat Electronics fell around 2%, while HDFC Bank, Kotak Mahindra Bank, and Bharti Airtel also lost ground.
Nifty tests 24,900
The Nifty 50 briefly slipped below the 25,000 mark in intraday trade, touching a low of 24,918.65. The Sensex, too, plunged over 600 points to hit 81,608.13. This comes after Q1 results have failed to deliver the earnings revival that investors were hoping for.
Sectoral watch: Mining, Transport, Aquaculture see some action
While most sectors ended lower, a few managed to post modest gains. Mining stocks led the sectoral pack with a 1.22% rise in market cap. Transport followed with a 1.07% uptick, while aquaculture and leather gained 0.77% and 0.66% respectively.