Indian stock markets declined during Friday’s session, recording weekly losses across multiple sectors. Data from NSE revealed declines in sectors including auto, media, pharma, PSU banks, realty, healthcare, oil, and gas.

The Sensex ended the day at 76,190.46 points, down by 329.92 points (0.43%), while the Nifty closed at 23,092.20 points, a decrease of 113.15 points (0.49%).

Market volatility has been attributed to uncertainties surrounding U.S. policies under President Donald Trump, which investors fear may disrupt global trade. Weak domestic economic growth and sustained selling by foreign portfolio investors have also impacted the markets.

In 2024, Sensex and Nifty recorded growth of 9–10%. This followed gains of 16–17% in 2023 and modest growth of 3% in 2022. Challenges such as sluggish GDP growth, foreign fund outflows, rising food prices, and weak consumption were significant factors affecting investor sentiment in 2024.

V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said: “FIIs will continue to sell, putting pressure on largecaps like banking. The irrationality in the market characterised by fair and even low valuations for largecaps like banking and excessive valuations in the broader market will have to reverse at some point of time. But we don’t know when that will happen.”

He added: “The Q3 results of IT companies and the management commentary indicating improving prospects for the sector suggest that it is a safe bet now.”

Shrikant Chouhan, Head of Equity Research at Kotak Securities, said multiple events including the upcoming Union Budget, RBI policy and ongoing Q3FY25 season will continue to shape market movements over the next fortnight.

Chouhan added that the broader markets underperformed their larger peers during the week, with midcap and smallcap indices declining more sharply. The IT sector was a notable performer, standing out amidst sectoral declines

(ANI)