Indian stock markets ended in negative territory on Friday after the announcement of fresh tariffs by the United States on imports from India. The 25 per cent tariff declaration by US President Donald Trump impacted investor sentiment, leading to broad-based selling across sectors.
The BSE Sensex declined by 585.67 points or 0.72 per cent to close at 80,599.91. The index opened lower at 81,074.41 and continued to face pressure throughout the session, touching an intra-day low of 80,495.57. The NSE Nifty also witnessed a decline of 203 points or 0.82 per cent, ending at 24,565.35.
Major drag was seen in the Pharma, IT, and Auto sectors. Stocks such as Tata Steel, Maruti Suzuki, Infosys, Tata Motors, Tech Mahindra, Bharti Airtel, BEL, Bajaj FinServ, ICICI Bank, HCL Tech, Mahindra and Mahindra, and TCS were among the top losers on the Sensex. However, select stocks like Trent, Asian Paints, Hindustan Unilever, and ITC ended the session in green.
On the sectoral front, Nifty Pharma declined 3.33 per cent, followed by Nifty IT which was down 1.85 per cent, and Nifty Auto which slipped 1.04 per cent. Nifty Bank ended 0.62 per cent lower. Meanwhile, Nifty FMCG bucked the trend to close in green with a gain of 384 points.
The broader market also mirrored the benchmark indices. Nifty Midcap 100 fell by 1.33 per cent, Nifty Smallcap 100 declined by 1.66 per cent, and Nifty 100 ended 0.91 per cent lower.
According to market analysts, the markets extended their corrective phase amid concerns over global trade tensions and ongoing foreign fund outflows. “Markets continue to grapple with a mixed earnings season, while the recent tariff announcement and persistent foreign fund outflows are further weighing on sentiment,” said Ajit Mishra, SVP, Research, Religare Broking Ltd.
Technical analysts also cautioned about key support levels. “A further decline is likely if Nifty slips below 24,400. On the upside, resistance is expected at 24,600–24,650 and 24,850,” said Rupak De, Senior Technical Analyst at LKP Securities.
-IANS
