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NRIPage | Articles | Indian Equity Indices Slide for Second Week; Titan Co. and Tata Steel Lead Losses | Get Health & Wellness Tips. Find tips on fitness, mental health, nutrition, and self-care - NRI Page
India's benchmark equity indices closed lower for a second consecutive week on Friday, as market sentiment was dampened by losses in major stocks such as Titan Co. and Tata Steel Ltd. On Friday, the Nifty index slipped by 0.10%, or 24.15 points, finishing at 24,974.3, while the Sensex declined by 0.22%, or 176.01 points, closing at 81,435.40.
The decline was attributed to the performance of banking stocks and Tata Consultancy Services Ltd., which contributed significantly to the downward pressure. Shrikant Chouhan, head of equity research at Kotak Securities, noted that global investors are eagerly awaiting a press conference from China’s Ministry of Finance on Saturday. With the upcoming second-quarter earnings season, stock-specific actions are expected to dominate the market based on results and management commentary.
The Nifty was pulled lower by shares of prominent banks, including ICICI Bank Ltd., HDFC Bank Ltd., and Axis Bank Ltd. However, some stocks like Infosys Ltd., Trent Ltd., and Larsen & Toubro Ltd. helped cushion the fall.
In broader market movements, the BSE Midcap and BSE Smallcap indices both ended positively, rising by 0.44% on Friday. On the BSE, 14 out of 20 sectors experienced gains, with the BSE Metal index leading the rise, while the BSE Realty index saw the most significant decline.
Over the week, Nifty concluded 0.2% lower and Sensex dropped by 0.4%. Among the sectoral indices, Nifty Pharma posted the most gains, while Nifty FMCG was the top loser.
As investors look ahead, risk sentiments will be influenced by fluctuating commodity prices, ongoing geopolitical tensions, the global monetary easing cycle, and capital flows to China.
