The Indian stock market ended Friday’s session lower, with key benchmark indices declining over 0.5%. The absence of fresh catalysts led traders to book profit, causing markets to cool off sharply from recent highs, while the lack of significant global trade developments also contributed to the decline.
The Nifty 50 index ended the session down 0.60% at 25,722, while the S&P BSE Sensex lost 0.55% to close at 83,938 points. Both benchmarks also ended the week in the red, snapping their four-week winning streak.
The broader markets mirrored the trend in frontline indices, with the Nifty Midcap 100 slipping 0.45% and the Nifty Smallcap 100 declining 0.48%.
Vinod Nair, Head of Research, Geojit Investments Limited, said, “Indian equities ended decisively lower after a volatile session, as investors booked profits amid mixed corporate earnings and cautious global sentiment in the backdrop of a strong greenback.”
“Most sectors closed in the red, pressured by renewed FII selling which have turned cautious after Powell’s hawkish statement and US-China trade development did not meet expectations. However, PSU banks outperformed on expectations of increased FDI limits and better Q2 results,” he further added.
Ponmudi R, CEO of Enrich Money, said, “Market sentiment remained cautious, shaped by a blend of global and domestic influences. Continued FII selling weighed on sentiment, though selective DII buying provided some stability. While near-term consolidation may persist, the broader outlook stays constructive, underpinned by robust corporate earnings, resilient domestic demand, and supportive policy measures.”
Bandhan Bank, Vedanta among top losers as markets turn stock-specific
Amid muted domestic and global cues, market action turned stock-specific as investors reacted to September quarter earnings, with poorly performing companies facing sharp selloffs.
Bandhan Bank shares opened lower and extended losses throughout the session after reporting a weak set of numbers, ending 8.22% down at ₹156.56 apiece, making it the top laggard among Nifty 500 stocks.
Vedanta, the Anil Agarwal-owned mining conglomerate, slipped 2.6% to ₹493.55 apiece after the company’s net profit dropped 39% year-on-year to ₹3,479 crore.
Apar Industries also continued to face selling pressure earlier this week, with the stock falling another 6.3% to ₹8,671 apiece. Likewise, persistent selling in Vedant Fashions dragged the stock down 4% to ₹645.75 apiece, its lowest level since listing.
Swiggy came under pressure following its Q2 results, as net losses remained high on a year-on-year basis, leading the stock to fall another 2% to ₹409.95 apiece, its fourth consecutive day of decline. Other new-age tech stocks, including Eternal, Nykaa, and PB Fintech, also ended lower.
Meanwhile, Varun Beverages, Adani Power, Ather Energy, Hindustan Copper, JBM Auto, Voltas, PVR INOX, and Cipla all ended lower, declining between 2% and 4%.
Navin Fluorine leads gainers as strong earnings lift sentiment
In terms of top performers, Navin Fluorine International topped the charts, surging 14.3% to ₹5,687 apiece after its September quarter results surpassed estimates across key parameters.
Maintaining momentum for the second straight session, Chennai Petroleum rallied another 11% to ₹979.35 apiece.
Banking stocks including IDBI Bank, IDFC First Bank, Canara Bank, UCO Bank, YES Bank, and Bank of Baroda also closed higher, gaining between 2% and 6%.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
