Indian shares ended lower on Friday as geopolitical concerns and firm crude oil prices kept investors cautious, though some buying emerged at close, with sector performances mixed and foreign investors reducing holdings.
Indian shares ended lower on Friday as concerns over geopolitics and firm crude oil prices kept investors cautious, even though some buying emerged in the final stretch of trade. The Sensex fell 148 points to 77,931, while the Nifty slipped 29 points to 24,366, after opening sharply weaker and spending much of the morning in negative territory.
Market breadth remained uneven. Bharti Airtel, Adani Ports, ICICI Bank, Titan and Mahindra and Mahindra were among the better performers on the Sensex, while Infosys, Larsen & Toubro, Hindustan Unilever, Maruti Suzuki and Kotak Mahindra Bank were among the main drags. In the broader market, the Nifty Midcap 50 fell 0.74%, even as the Nifty Microcap 250 rose 0.8%, suggesting that volatility eased in some pockets.
Sector performance was similarly mixed. According to market data, the Nifty Financial Services Ex-Bank index lost 1.02%, while the Nifty Media index gained 0.96%. Overseas trends were also mixed, with South Korea’s Kospi and Japan’s Nikkei 225 higher, while the Shanghai Composite and Hong Kong’s Hang Seng traded lower.
Brent crude edged up to $87.12 a barrel, extending pressure on oil-importing economies such as India. Ponmudi R, chief executive of Enrich Money, said the unresolved US-Iran standoff continued to support oil prices and could add to inflation and currency volatility. Foreign institutional investors sold equities worth Rs 510.69 crore on Thursday, exchange data showed, underscoring the cautious tone that has weighed on recent trading.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
