Stock Market Highlights: Benchmarks Log Second Weekly Decline As Nifty Slips Below 24,800
The Nifty FMCG, Oil & Gas, Auto and IT sectors fell for the second consecutive week, while the Nifty Realty sector gained for the third week in a row.
The benchmark equity indices closed lower on Friday, marking the second week of losses. The NSE Nifty 50 ended 82.9 points or 0.33% lower at 24,750.7 and BSE Sensex ended 182.01 points or 0.22% lower at 81,451.01.
During the day, the Nifty fell 0.47% to trade at 24,717.4 and the Sensex declined 0.42% to trade at 81,286.45 mark. The Nifty index declined by 0.4% for the week, primarily dragged down by the Nifty FMCG sector. Overall, the Nifty index fell for the second week in a row, reflecting a volatile market environment.
ITC and Godrej Consumer Products were the biggest losers in the Nifty FMCG segment, while UltraTech Cement and Grasim Industries saw the most significant declines in the Nifty index.
Several sectors experienced mixed results this week. The Nifty FMCG, Oil & Gas, Auto and IT sectors fell for the second consecutive week, while the Nifty Realty sector gained for the third week in a row.
The domestic market seems to have mirrored the global market, which swung following a US Court blocking major portion of Trump's tariffs on Thursday. But the downward rally resumed on Friday as the US appeals court stayed the earlier order on Tariff.
"The Nifty opened at 24,812 and traded within a narrow range... mirroring the subdued movement seen in recent sessions," said Sundar Kewat, technical and derivatives analyst at Ashika Institutional Equity.
Shares of Eternal Ltd., State Bank of India and HDFC Bank Ltd. were the top gainers.
While those of Bajaj Auto Ltd. and Hindalco Industries Ltd. were among the biggest laggards.
In terms of points contribution, HDFC Bank and Eternal were among stocks that led the gains in the index.
Infosys Ltd. and ICICI Bank Ltd. dragged the index the most.
On the NSE, 11 out of the 15 sectors ended in the red, with the Nifty Metal, Defence and IT being the top laggards.
In the broader market, the BSE MidCap and SmallCap outperformed the Sensex, as the MidCap ended 0.39% lower and SmallCap gained 0.17%,
The market breadth was skewed in favour of sellers, as 1,799 stocks advanced, 2,179 declined and 132 remained unchanged on the BSE.
