Market Retreats After Recent Gains
Indian equity markets concluded Friday's trading session in negative territory, snapping a two-day winning streak as major financial stocks exerted downward pressure. The benchmark indices declined by approximately 0.5% amid subdued global sentiment, with the Nifty 50 retreating after touching a fresh 52-week high of 26,246.65 in the previous session.
The Sensex dropped 400.76 points, or 0.47%, to close at 85,231.92, while the Nifty 50 shed 124 points, or 0.47%, finishing the day at 26,068.15. Markets opened weakly and attempted recovery during the first half, but renewed selling across multiple sectors dragged indices toward the day's lowest levels.
Sectoral Performance and Market Breadth
Sectoral performance displayed broad weakness, with metal, realty, and PSU banking stocks leading the decline. The fast-moving consumer goods (FMCG) sector emerged as the only notable outperformer during the session. The mid-cap and small-cap indices underperformed the benchmark, both slipping by over one percent.
Ajit Mishra, Senior Vice President of Research at Religare Broking Ltd, commented: "Investor sentiment was impacted by global weakness after the release of U.S. jobs data, which failed to provide clarity on the near-term trajectory of interest rates."
Key Stocks in Focus
InterGlobe Aviation, the parent company of IndiGo, is set to join the 30-stock Sensex index, replacing Tata Motors Passenger Vehicles effective from the market opening on Monday, December 22.
Tata Consultancy Services (TCS) faced a legal setback as the U.S. Court of Appeals for the Fifth Circuit delivered an unfavorable ruling in its long-running legal battle with DXC Technology, affirming an earlier decision that requires the Indian IT firm to pay damages.
Rail Vikas Nigam announced that it has been declared the L1 bidder for a ₹180.77-crore Northern Railway project involving upgrades to the UTR–MWP section through OHE modifications and feeder wire work for the 2x25 kV traction system.
Tata Power entered into commercial agreements with Druk Green Power Corporation to co-develop Bhutan's 1,125 MW Dorjilung hydropower project.
Natco Pharma disclosed that the US FDA issued seven procedural observations following an inspection of its Manali API facility, though the company expressed confidence in resolving them.
Tata Chemicals received board approval for an investment of ₹910 crore to expand manufacturing capacities at its facilities in Mithapur, Gujarat, and Cuddalore, Tamil Nadu.
Kotak Mahindra Bank announced its first stock split since September 2010, deciding to divide one share into five.
Adani Green Energy established two new step-down subsidiaries to bolster its renewable power operations in Gujarat.
Housing & Urban Development Corporation (HUDCO) signed a Memorandum of Understanding with the IDFC Foundation designed to enhance technical, financial, and leadership capabilities within urban institutions.
Marico revealed that its digital-first brands have surpassed ₹1,000 crore in annual recurring revenue, with the company anticipating that its foods and premium personal care portfolio will account for 25% of its India business.
