The Indian stock market closed on a weak note today, with both Sensex and Nifty ending in the red as selling pressure weighed on key sectors. While FMCG and oil & gas stocks managed to stay afloat, IT, auto, realty, and media stocks took a hit, leading the broader indices lower.
“Indian equity markets weekly performance was mixed. The Nifty 50 and the Sensex 30 indices posted marginal weekly gains, whereas the BSE Midcap and the BSE Smallcap indices unperformed and closed the week in negative territory. Volatility continued in the global markets amid forthcoming US tariffs. Auto stocks remained under pressure as the US plans to impose 25% tariff on car imports and certain auto parts; BSE auto index declined more than 2% this week,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.
Sensex, Nifty end lower
The Sensex closed 191.51 points lower, down 0.25%, settling at 77,414.92. The Nifty followed a similar trajectory, slipping 72.60 points or 0.31% to close at 23,501.10.
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The banking sector remained largely flat, with the Nifty Bank closing marginally lower at 51,564.85, down by just 11 points or 0.02%.
Sectoral Pressure: IT, Auto drag markets down
Most sectoral indices ended in the red, barring FMCG and oil & gas stocks, which showed some resilience. IT, auto, realty, and media stocks saw declines ranging between 1 to 2%.
“Asian markets are experiencing a new phase of consolidation as the latest U.S. tariff measures are expected to have a significant impact on major manufacturing economies. Additionally, a rise in Japan’s CPI has contributed to the prevailing weakness. Domestically, the market’s upward momentum has stalled as investors evaluate the implications of these tariffs on the auto, ancillary, pharma and others sectors. Meanwhile, gold prices have reached a new high, on concerns that a deepening of the trade war could further deteriorate global economic health,” said Vinod Nair, Head of Research, Geojit Investments Limited.
Top gainers and losers
Among the top losers on the Sensex were Wipro, IndusInd Bank, Shriram Finance, Cipla, and M&M.
Meanwhile, a few stocks managed to buck the trend, with Tata Consumer,
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