Sensex Closes 425 Points Lower, Nifty At 22,796; Auto Shares Bleed – News18
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Sensex Today: Benchmark equity indices, BSE Sensex and Nifty50, opened lower on Friday, influenced by mixed global cues.
Sensex Today
Sensex Today: Benchmark equity indices, BSE Sensex and NSE Nifty50, closed the final trading session of the week in negative territory. The 30-share BSE Sensex dropped 424.90 points, or 0.56%, to finish at 75,311.06, trading between a high of 75,748.72 and a low of 75,112.41 during the day.
The NSE Nifty50 also ended lower by 127.25 points, or 0.51%, at 22,795.90, with the index reaching a day’s high of 22,921 and a low of 22,720 on Friday.
Out of the 50 constituent stocks of the Nifty50, 35 closed in the red, led by Mahindra & Mahindra, Adani Ports, BPCL, Tata Motors, and Wipro, with losses extending up to 6.20%.
Broader markets followed the benchmarks, with the Nifty Midcap100 and Nifty Smallcap100 indices losing 1.32% and 0.70%, respectively.
All sectoral indices, except Nifty Metal, ended in the red. Nifty Auto was the biggest loser, dropping 2.58%. Other sectors, including Nifty PSU Bank, Healthcare, Realty, Pharma, and OMCs, also saw losses of over 1% each.
‘FII selling likely to continue… creating opportunity for long-term investors’
“In the context of Trump’s tariff threats the market is negatively responding to potential tariff targets like autos and pharmaceuticals and looking for opportunities in domestic consumption plays which will not be impacted by tariff threats. This is likely to be a short-term trend since Trump’s strategy is to threaten with tariffs and then negotiate for tariff reduction on US exports. It will take time for this to play out. Higher tariffs on imports into the US is not in the interest of the US since it will be inflationary, inviting hawkish comments from the Fed, which, in turn, will impact the US stock market. Trump will not like this outcome and, therefore, he is using the interim period to negotiate with trading partners.
The FII selling in India is likely to continue, particularly in the context of renewed interest in Chinese stocks which are cheap and are staging a smart recovery. FII selling will continue to put pressure on largecaps. This is an opportunity for long-term investors. Select midcaps like in the defence sector which have corrected and are fairly valued now are likely to witness buying since they don’t face the threat of FII selling.”
Views By: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
Global Cues
Australian shares rose on Friday, driven by gains in mining and energy stocks due to strong commodity prices. Nine Entertainment emerged as the top gainer after its 60%-owned subsidiary, Domain Holdings Australia, received a buyout offer.
The S&P/ASX 200 index was up 0.1% at 8,333.1 as of 0026 GMT, although it has lost 2.6% this week.
The yen surged to a 2.5-month high on Friday following a jump in Japanese inflation, while the dollar was poised for a third consecutive weekly decline. Traders have largely dismissed any significant action on tariffs from the start of Donald Trump’s second term.
The yen broke through chart resistance at 150 per dollar and strengthened further, reaching 149.285 per dollar in the morning session, after Japan reported core inflation at its fastest pace in 19 months for January.
