Indian stock markets witnessed a volatile trading session on Friday, with key indices ending lower. The BSE Sensex dropped over 200 points, while the NSE Nifty slipped below the 24,250 mark, reflecting cautious investor sentiment amid mixed global cues.
Market Performance
The 30-share BSE Sensex declined by 206.15 points, or 0.25%, to settle at 79,389.06. Similarly, the broader NSE Nifty fell by 68.15 points, or 0.28%, to close at 24,205.35. The indices fluctuated throughout the day, touching intraday highs and lows before closing in the red.
Sectoral Trends
Among sectoral indices, banking and IT stocks were the major laggards. The Nifty Bank index dropped by 0.5%, while the Nifty IT index declined by 0.4%. On the other hand, auto and pharma stocks showed some resilience, limiting the downside.
- Top losers: HDFC Bank, Infosys, ICICI Bank, and TCS were among the top contributors to the decline.
- Gainers: Maruti Suzuki, Sun Pharma, and Power Grid managed to stay in positive territory.
Global Cues
Global markets remained mixed, with Asian peers trading lower amid concerns over interest rates and economic growth. The US Federal Reserve's recent comments on inflation and monetary policy continued to weigh on investor sentiment.
Expert View
According to market analysts, the volatility is expected to persist in the near term due to uncertainty over global economic recovery and domestic inflation data. Investors are advised to adopt a cautious approach and focus on fundamentally strong stocks.
Overall, the market breadth was negative, with more stocks declining than advancing on the BSE. The total market capitalization of BSE-listed companies fell by over ₹1 lakh crore during the session.
