The equity benchmark indices Sensex and Nifty declined sharply for the second consecutive session on Friday, with market sentiment weighed down by concerns over the newly imposed 25 per cent US tariff on Indian exports, persistent selling by foreign investors, and weakness in global markets.
In a day of volatile trade, the 30-share BSE Sensex tumbled 585.67 points, or 0.72 per cent, to settle at 80599.91. As many as 2,712 stocks declined while 1,306 advanced and 151 remained unchanged on the BSE. The 50-share NSE Nifty declined 203 points or 0.82 per cent to 24,565.35.
Key sectors, including auto, metal, IT, and pharma, declined 2–3 per cent amid concerns over US trade actions. However, select fast moving consumer goods (FMCG) stocks rallied sharply after companies like HUL, Dabur India, and Emami reported strong Q1 results, pushing the Nifty FMCG Index up nearly 1 per cent. The Nifty 500 stocks’ advance-decline ratio stood at 1:4, reflecting a heavy selloff in mid and small-cap stocks.
Globally, Asian, European, and US index futures dropped around 1 per cent after US President Trump signed an executive order introducing “reciprocal” tariffs on multiple countries, with rates ranging from 10 per cent to 41 per cent, set to take effect in seven days. The move has sparked fears of rising inflation and slowing global growth.
“The Nifty wrapped up its fifth consecutive week in the red -- its longest losing streak since August 2023, raising eyebrows across the street,” Sudeep Shah, head — technical research and derivatives at SBI Securities, said.
“Globally, markets turned negative amid rising US inflation and trade tensions. While the sell-off was broad-based, FMCG stocks emerged as a defensive play,” Vinod Nair, head of research, Geojit Investments Limited, said.
Foreign Institutional Investors offloaded equities worth ₹5,588.91 crore on Thursday.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng settled lower. Equity markets in Europe were trading in the red. The US markets ended in negative territory on Thursday.
Brent crude declined 0.39 per cent to $71.42 a barrel.
Precious metals
Gold prices dropped by ₹400 to ₹97,620 per 10 grams in Delhi on Friday due to continuous selling by stockists. Silver prices also extended the losses for the second straight day and tumbled by ₹2,500 to ₹1,09,500 per kilogram.
In Calcutta, pure gold was at ₹98,100 per 10 gram against ₹98,950 per 10 gram the previous day. Silver prices stood at ₹1,10,150 per kg compared with ₹1,11,900 on Thursday.
Meanwhile, the rupee appreciated 12 paise to close at 87.53 (provisional) against the US dollar on Friday.