Domestic equity benchmarks suffered sharp losses on Friday, halting a winning streak that lasted six trading sessions in a row. Selling pressure across most spaces led the losses on Dalal Street, with financial, IT and energy shares being the worst drags, though buying in select automobile stocks lent some support. Globally, investors remained on the back foot reading tariff-related developments.
Both main indices closed 0.9 per cent lower. The Sensex gave up 693.9 points to end at 81,306.9 while the Nifty50 gave up 213.7 points to settle at 24,870.1.
Top Nifty 50 gainers and losers
Among index heavyweights, HDFC Bank, Reliance, ICICI Bank and ITC were the biggest contributors to the losses in both main indices, whereas gains in stocks like M&M and Maruti Suzuki offered the maximum support.
Grasim, Asian Paints, Adani Enterprises, UltraTech Cement, Hero MotoCorp, Tata Steel, ITC and HCL Tech — closing between 1.8 per cent and 2.6 per cent lower — were the worst hit among the 42 losers in the Nifty50 pack.
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Top Sensex movers
On the flipside, Mahindra & Mahindra, Maruti Suzuki, BEL and Bharti Airtel — closing between 0.2 per cent and 0.7 per cent higher — were the top Nifty50 gainers.
How Nifty Bank fared
The Nifty Bank — whose 12 constituents include SBI and HDFC Bank — tanked 606.1 points, or 1.1 per cent, to close at 55,149.4, having broadly gyrated in the 55,100-55,750 band during the session.
Financial service stocks hold the maximum weightage in the Nifty50, at almost 38 per cent.
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Midcap and smallcap stocks
Though impacted, midcap and smallcap segments fared relatively better than the headline indices.
Amid broader indices, Nifty Midcap 100 and Nifty Smallcap 100 ended 0.1 per cent and 0.3 per cent lower, respectively.
Overall market breadth remained in favour of the bears throughout the day’s trade, with only four stocks rising for every five falling scrips on BSE.
Global markets
European shares began the day on a cautious note, with the pan-continental Stoxx 600 trading 0.1 per cent higher in the early hours.
Investors continued to weigh the European Union’s trade deal with America.
