The Indian equity benchmarks suffered extended losses throughout the afternoon session on Friday because the Sensex dropped more than 750 points while the Nifty 50 index fell under 25,100. The markets experienced downward movement because that investor mood remained uncertain through mixed international market signals and the lack of major domestic market developments.
The different market sectors showed various performance results. Metal stocks achieved better performance because Hindustan Zinc and National Aluminium Company experienced substantial price increases, which resulted from rising global silver prices. Auto and IT and FMCG shares recorded positive market performance. The selling pressure on realty and banking and financial services stocks caused the benchmarks to decline.
The mid-cap and small-cap indices demonstrated market strength through their upward movement. The Indian rupee gained slight strength during early trading because investor confidence improved after US President Donald Trump reduced his tariff threat against Europe through his Greenland comments which decreased worries about immediate trade conflicts.
Adani Group shares experienced a 10% decrease after reports confirmed that the US Securities and Exchange Commission requested judicial permission to deliver summons to Gautam Adani and a senior executive in the bribery investigation. The top Sensex laggards included Eternal and Adani Ports and InterGlobe Aviation.
Cipla shares declined after the drugmaker reported a 57% year-on-year fall in consolidated net profit for the December quarter, even as revenue remained flat.IndiGo experienced declines because its quarterly profit dropped significantly after accounting for exceptional costs and operational difficulties.
Asian markets showed mostly positive trading results because Japanese and Hong Kong and Chinese markets increased while European futures showed mixed results. Investors are now awaiting key corporate earnings, global central bank cues and further clarity ahead of the Union Budget on February 1.
Market participants stated that foreign institutional investor selling creates a significant market drawback because companies need to show consistent earnings growth in order to bring back substantial investor purchases. Until then, analysts expect markets to remain volatile with stock-specific action driven by quarterly results.
