Mkts hover in red for 5th Day as selling pressure drags
As investors turned cautious due to growing concerns over potential US tariff hikes amid lingering geopolitical worries, relentless foreign capital flight also affected the sentiment
Mumbai: Benchmark indices Sensex and Nifty buckled under selling pressure for the fifth straight session on Friday, falling nearly 1 per cent, as investors turned cautious due to growing concerns over potential US tariff hikes amid lingering geopolitical worries. The relentless foreign capital flight from Indian equities also affected the market sentiment, traders said.
After a brief rebound in early trade, the 30-share BSE Sensex failed to carry forward the momentum and tumbled 604.72 points, or 0.72 per cent, to sink below the 84,000-level and settle at 83,576.24. During the day, it dropped 778.68 points, or 0.92 per cent, to 83,402.28. A total of 3,104 stocks declined, while 1,062 advanced and 176 remained unchanged on the BSE. The 50-share NSE Nifty dropped 193.55 points or 0.75 per cent to 25,683.30. In the past five trading days, the BSE benchmark declined 2,185.77 points, or 2.54 per cent, and the Nifty tumbled 645.25 points, or 2.45 per cent.
"Market sentiment stayed subdued amid elevated geopolitical and global trade-related concerns, particularly renewed uncertainty around potential US tariff actions and related Supreme Court developments. Persistent foreign institutional selling and weakness across broader risk assets further compounded the negative bias, while heavyweights also added to the downside pressure," Ajit Mishra - SVP, Research, Religare Broking Ltd, said.
From the Sensex pack, NTPC, ICICI Bank, Adani Ports, Bharti Airtel, Sun Pharma and Bajaj Finance were among the biggest laggards. In contrast, Asian Paints, HCL Tech, Bharat Electronics and Reliance Industries were among the gainers.
