Finance
Indian equity indices ended Friday’s trading session down. When Reliance Group chairman Mukesh Ambani spoke to shareholders at the annual general meeting (AGM) later in the trading day, the market fell. According to Ambani, the team is preparing to submit an IPO application for Reliance Jio Platforms.
The Sensex retreated 270 points, or 0.34%, to end the session at 79,810, while the Nifty 50 ended the session 74 points, or 0.30%, lower at 24,427.
The Sensex corrected 2.2% for the week, while the Nifty 50 closed 2% lower.
The Nifty Bank also followed the market as a whole, closing at 53,655, down 165 points, or 0.31%. The midcap and small-cap stocks fell as well. At 44,642.31, the BSE Midcap fell 184 points, or 0.41%. However, the BSE Smallcap ended the day at 51,449.23, down 150.28 points, or 0.29%.
“Investor sentiment remained cautious as markets attempted to digest the full impact of the US tariff. The persistence of this issue is likely to heighten the future competitiveness of India’s exports in some areas. While generally, the pressure is also likely to weigh on INR, driving it to depreciation. Equity benchmarks underperformed, with mid- and small-cap segments particularly affected by risk aversion and stretched valuations,” said Vinod Nair, Head of Research at Geojit Investments.
“In contrast, FMCG stocks sustained their upward momentum, supported by expectations of GST rate rationalisation and stronger consumer demand. However, the full impact of these on consolidated fiscal in the short term has to be reviewed, added Nair.
Top gainers
ITC was the top gainer in the Nifty 50 in Friday’s session, closing 2.15% higher. It was followed by Shriram Finance, Bharat Electronics, Larsen & Toubro, and Asian Paints.
Top losers
Mahindra & Mahindra’s shares were the biggest losers in today’s trade, declining 2.89%. It was followed by Reliance Industries, Infosys, Apollo Hospitals, Adani Enterprises, and many others.
Source: FE
