Get the whole market wrap to find out which stocks and sectors did better and which underperformed as the Sensex and Nifty closed lower due to widespread selling.
As selling pressure persisted across all sectors, Indian equities indexes closed Friday’s session on a low note. The Nifty 50 closed at 25,149.85, down 205.40 points, or 0.81%, while the Sensex closed at 82,500.47, down 689.81 points, or 0.83%. The Nifty Bank index fell by 0.35% as well, closing at 56,754.70.
“A sober start to the first quarter earnings season and an escalation in the US’s threat to impose a 35% tariff on Canada caused the domestic market to close lower. In the short term, the current premium valuation and global headwinds like low spending and tariff worries may limit fresh inflows, but investors may still be focused on quarterly profits for a buy-on-dips strategy. Delays in orders and new investments caused the IT index to underperform, which could affect FY26 profit projections, according to Vinod Nair, Head of Research at Geojit Investments.
Leading winners in a declining market
Some equities were able to remain positive in spite of the dramatic fall. Among the leading winners in today’s session were Hindustan Unilever, Axis Bank, Sun Pharma, NTPC, and Eternal.
Important laggards cause indices to decline.
The market was substantially impacted by heavyweight stocks. The largest laggards were TCS, M&M, Bharti Airtel, Tata Motors, Titan, and Reliance Industries. These counters declined as a result of cautious investor sentiment, poor outlooks, and disappointing earnings.
Pressure on the IT sector
The Nifty IT index dropped by almost 3% during the day, indicating that the technology pack was still under selling pressure. Following its Q1 earnings, which did not improve market sentiment, TCS led the decline with a 3% decline. Wipro, LTI Mindtree, Oracle Financial Services, HCL Tech, Infosys, Coforge, and Mphasis were among the other tech companies that saw declines of 1-3 percent. Despite being less affected, Tech Mahindra too experienced a decline in trading.
Gainers by sector
Despite pressure on the overall economy, certain industries were able to report advances. With a 3.11% increase in market capitalization, the Glass sector led, followed by Personal Care with a 2.46% increase. Fertilizers saw a slight gain of 0.62%, while the transportation industry increased by 1.09%.
Global cues cause a widespread selloff in many industries.
The poor start to earnings season by software giant TCS warned investors about the weak global demand picture, which resulted in strong selling in IT, telecom, auto, real estate, and oil and gas companies, even as negative US Dow Futures and weak European market indications affected sentiment. Market volatility may rise in the near future, even though everyone will be watching how the trade talks with the US turn out, according to Prashanth Tapse, Senior VP (Research), Mehta Equities.
