Synopsis : Indian equity markets came under heavy selling pressure on Friday, with the Sensex tumbling over 600 points and Nifty slipping below 25,300. Weakness in FMCG, auto and realty stocks overshadowed continued buying in IT shares.
Indian benchmark indices witnessed sharp losses on Friday amid mixed global cues, as selling in consumption and rate-sensitive sectors dragged markets lower despite strength in IT stocks.
By 11:00 AM, the BSE Sensex had tumbled nearly 600 points from earlier levels, while the NSE Nifty 50 slipped below the 25,300 mark, reflecting broad-based weakness across sectors.
Sectoral Drag: FMCG, Auto & Realty Under Pressure
The decline was led by heavy selling in FMCG, auto, realty, chemicals and financial services stocks, with each of these sectoral indices falling over 1 per cent. Investor caution persisted in consumption-linked counters amid concerns over demand trends and valuation pressures.
Maruti Suzuki, Mahindra & Mahindra, Bharti Airtel, InterGlobe Aviation (IndiGo), Reliance Industries and Adani Ports were among the notable laggards, declining more than 1 per cent each.
IT Stocks Continue to Shine
In contrast, information technology stocks extended gains for the third consecutive session. Infosys climbed 3 per cent to ₹1,331, while Tech Mahindra, HCL Technologies and TCS gained around 1 per cent each. The Nifty IT index was up nearly 1 per cent, providing some cushion to the frontline indices.
Broader Markets Weak
The broader market also reflected a risk-off mood. The Nifty MidCap 100 slipped 0.76 per cent, while the Nifty SmallCap 100 dropped 1 per cent, indicating wider selling pressure beyond large-cap stocks.
Outlook
With global cues mixed and domestic sectoral rotation intensifying, analysts expect volatility to persist in the near term. Market participants are likely to remain selective, focusing on stock-specific opportunities rather than broad-based exposure.
Disclaimer : This article is for informational purposes only and does not constitute investment advice. Investors should consult a qualified financial advisor before making any investment decisions.
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