Benchmark Indices End Lower, Sensex Closes Below 77,000; Nifty 50 at 23,200; Infosys, Axis Bank Among Top Drags

The Sensex dropped by 0.55 per cent, settling at 76,619.33, while the Nifty 50 declined by 0.47 per cent to close at 23,203.20.

Market Update at 3:30 PM: Indian equity markets concluded the day in the red, weighed down by weak cues from global markets and losses in heavyweight stocks. The Sensex dropped by 0.55 per cent, settling at 76,619.33, while the Nifty 50 declined by 0.47 per cent to close at 23,203.20.

Broader markets offered a mixed performance, with the Nifty Midcap 150 gaining 0.12 per cent to 20,195.90, and the Nifty Smallcap 250 easing marginally by 0.04 per cent to 16,700.50.

The volatility index, India VIX, rose by 1.82 per cent to 15.75, signaling a rise in investor caution.

Among the top performers, Nifty Realty surged by 1.32 per cent, followed by Nifty Metal, which gained 1.18 per cent, and Nifty Oil & Gas, rising 1.56 per cent. On the downside, Nifty IT emerged as the worst-hit sector with a decline of 2.68 per cent, while Nifty Private Bank and Nifty Financial Services slipped by 2.17 per cent and 1.46 per cent, respectively.

Among Nifty 50 constituents, BPCL, Reliance Industries, and Coal India emerged as the Top Gainers, advancing by 2.68 per cent, 2.65 per cent, and 2.52 per cent, respectively. On the flip side, Infosys, Axis Bank, and Shriram Finance were the biggest laggards, shedding 5.75 per cent, 4.43 per cent, and 3.71 per cent, respectively.

The overall market breadth was slightly tilted towards advances, with 1,472 stocks ending higher against 1,338 stocks closing lower on the NSE, reflecting cautious optimism among investors.

Market Update at 9:45 AM: Indian equity markets started the day on a subdued note, tracking tepid global cues. As of now, the Sensex declined by 0.56 per cent to trade at 76,609.00, and the Nifty 50 slipped by 0.49 per cent to 23,197.30.

Broader indices also faced selling pressure. The Nifty Midcap 150 edged lower by 0.08 per cent to 20,156.20, while the Nifty Smallcap 250 dropped 0.39 per cent to 16,642.80.

On the volatility front, India VIX rose by 0.80 per cent, reaching 15.59, indicating heightened investor caution.

Among sectoral indices, Nifty Realty, Nifty Metal, and Nifty Oil & Gas emerged as the top performers. Conversely, Nifty IT, Nifty Private Bank, and Nifty Financial Services were the worst hit.

Within the Nifty 50, Reliance Industries, Hindalco, and BPCL were the leading gainers. On the other hand, Infosys, Axis Bank, and ICICI Bank were the top laggards.

The market breadth tilted towards declines, with 1,308 stocks losing compared to 1,043 stocks advancing, reflecting cautious sentiment across sectors.

Market Update 8:15 AM: U.S. stocks retreated on Thursday, pausing after Wednesday’s strong gains, as investors processed the latest corporate earnings reports and analyzed economic indicators to assess the Federal Reserve's potential interest rate moves. The Dow Jones Industrial Average dipped 68.42 points, or 0.16 per cent, to settle at 43,153.13. The S&P 500 slid 12.57 points, or 0.21 per cent, to 5,937.34, while the Nasdaq Composite dropped 172.94 points, or 0.89 per cent, ending at 19,338.29.

Asian equities edged lower in Friday’s early session, mirroring Wall Street’s subdued performance as investors anticipated a flurry of Chinese economic data, including fourth-quarter growth figures.

The GIFT Nifty suggests a negative opening for Indian markets, with Nifty futures trading at 23,309.5 as of 7:20 am IST.

Treasury yields showed mixed movement. Federal Reserve Governor Christopher Waller stated that further rate reductions might be on the table by mid-2025, provided inflation trends remain favorable.

The dollar index hovered around 108.96 in early Friday trading, remaining stable against a basket of major global currencies.

Brent crude oil prices recovered slightly, climbing to approximately $81.5 per barrel. The commodity is poised for a fourth consecutive weekly rise after reversing losses from the previous session.

Foreign Institutional Investors (FIIs) extended their selling streak, offloading equities worth Rs 4,341 crore. Meanwhile, Domestic Institutional Investors (DIIs) stepped in, purchasing shares amounting to Rs 2,928 crore.

Aarti Industries, Aditya Birla Fashion and Retail, Angel One, Bandhan Bank, Kalyan Jewellers, Hindustan Copper, Manappuram Finance, L&T Finance, and RBL Bank remain under the F&O trading ban on the NSE

Disclaimer: The article is for informational purposes only and not investment advice.