Indian equity benchmarks closed Friday’s session on a negative note. The fall in the market came in the later hours of the trade, when Reliance Group’s chairman Mukesh Ambani addressed shareholders at the annual general meeting (AGM). Ambani stated that the group is making arrangements to file an IPO for Reliance Jio Platforms.
The Nifty 50 closed the session 74 points or 0.30% lower at 24,427, and the Sensex corrected 270 points or 0.34% to end at 79,810.
For the week, Nifty 50 closed 2% lower, while the Sensex corrected 2.2%.
Similarly, the Nifty Bank was in line with the overall market, settling 165 points or 0.31% lower at 53,655. The small and midcap stocks also declined. The BSE Midcap declined 184 points, or 0.41%, at 44,642.31. On the other hand, the BSE Smallcap finished 150.28 points or 0.29% lower at 51,449.23.
“Investor sentiment remained cautious as markets attempted to digest the full impact of the US tariff. The persistence of this issue is likely to heighten the future competitiveness of India’s exports in some areas. While generally, the pressure is also likely to weigh on INR, driving it to depreciation. Equity benchmarks underperformed, with mid- and small-cap segments particularly affected by risk aversion and stretched valuations,” said Vinod Nair, Head of Research at Geojit Investments.
“In contrast, FMCG stocks sustained their upward momentum, supported by expectations of GST rate rationalisation and stronger consumer demand. However, the full impact of these on consolidated fiscal in the short term has to be reviewed, added Nair.
5 big highlights from today’s market action-
Indices in intraday trade
The indices closed Friday’s session on a negative note. During the session, out of 3,083 trading stocks, 1,307 advanced, while 1,684 declined, and 92 remained unchanged. Today, 51 stocks hit a fresh 52-week high. Meanwhile, 86 stocks touched a new 52-week low.
Top gainers
ITC was the top gainer in the Nifty 50 in Friday’s session, closing 2.15% higher. It was followed by Shriram Finance, Bharat Electronics, Larsen & Toubro, and Asian Paints.
Top losers
Mahindra & Mahindra’s shares were the biggest losers in today’s trade, declining 2.89%. It was followed by Reliance Industries, Infosys, Apollo Hospitals, Adani Enterprises, and many others.
Top sectors in Friday’s trade
The Tobacco sector’s stocks rose the most in Friday’s weak trade, rising 2.4% in the market capitalisation. Further, Rubber stocks were followed by Leather sector stocks, which were further followed by the Edible Fat sector stocks. The Beverages – Alcoholic stood behind the Packaging sector. However, the Beverages – Non-Alcoholic sector stocks fell the most.