Stock Market Highlights: Nifty, Sensex Decline For Eighth Day In Longest Losing Streak In Two Years
The NSE Nifty 50 ended 102.15 points, or 0.44% lower at 22,929.25, and the 30-stock BSE Sensex closed 199.76 points, or 0.26% down at 75,939.21.
The Indian equity benchmark indices closed lower on Friday, registering the longest losing streak in two years, as Sun Pharmaceutical Industries Ltd. and Bharat Electronics Ltd. stocks dragged.
The NSE Nifty 50 ended 102.15 points, or 0.44% lower at 22,929.25, and the 30-stock BSE Sensex closed 199.76 points, or 0.26% down at 75,939.21.
The NSE Nifty Bank also closed 260.40 points or 0.53% lower at 49,099.45.
For the weekly overview, Nifty fell 2.8% during the week, marking this the worst week in this year. Nifty Realty emerged as the top sectoral loser for the week, falling more than 9% for the week.
Further, Nifty Midcap 150 registered the worst week since Covid. Nifty Realty logged its worst week since March 2024. Nifty Oil and Gas fell nearly 6% for the week, marking the worst weekly fall in last three months.
Shares of ICICI Bank Ltd., Infosys Ltd., Tata Consultancy Services Ltd., HCLTechnologies Ltd. and Nestle India Ltd. contributed positively to changes in the Nifty 50.
While those of Sun Pharma, Bharat Electronics, Larsen & Toubro Ltd., and Axis Bank Ltd. weighed the index.
On NSE, all 12 sectors ended in red, with Nifty Media, Pharma, Energy, Realty and PSU Bank declining the most.
Broader markets underperformed benchmark indices. The BSE Midcap and Smallcap indices ended 2.59% and 3.24%, respectively.
Nifty Smallcap 250 fell 9.5% for the week, the drag was from Natco Pharma and Concord Biotech. Nifty Smallcap 250 registered the worst week since Covid-19.
Market breadth was skewed in the favour of sellers. Around 3,320 stocks declined, 681 stocks advanced, and 82 remained unchanged on BSE.
