The Indian equity benchmark indices ended sharply lower on Friday, with key benchmark indexes falling more than 1 percent, as rising geopolitical tensions as well as AI-disruption worries spooked investors.
Among sectors, auto, bank, FMCG, metal, realty, telecom shed 1-2%, while IT, media, consumer durables ended in the green. Broader markets also fell in line with the benchmark indices. The Nifty MidCap and the Nifty SmallCap indices ended 1.14 per cent and 1.10 per cent down, respectively.
Overseas, European stocks were modestly higher on Friday despite lingering concerns regarding artificial-intelligence related layoffs and workforce disruption. Asian markets ended mostly higher on Friday, even as Nvidia's strong earnings and guidance failed to dispel investor fears over the durability of an AI boom.
On the other side, Oil prices edged higher on Friday after diplomatic efforts between the United States and Iran aimed at easing tensions over Tehran's nuclear program concluded on Thursday without an agreement.
On the corporate front, Redington share price witnessed a sharp uptick during Friday's session with the stock climbing nearly 17 per cent on the BSE. Share price of Lenskart Solutions hit a new high of ₹541.45, as they soared 6 per cent on the BSE.
The 30-share benchmark ended at 81287.19 down by -961.42 points or by -1.17 % and then NSE Nifty was at 25178.65 down by -317.9 points or by -1.25 %.
During the day’s trade, Sensex touched intraday high of 82246.17 and intraday low of 81159.15 The NSE Nifty touched intraday high of 25476.4 and intraday low of 25141.30.
The top gainers of the BSE Sensex pack were HCL Technologies Ltd. (Rs. 1390.20,+1.22%), Trent Ltd. (Rs. 3900.15,+1.10%), Infosys Ltd. (Rs. 1299.95,+0.82%), Eternal Ltd. (Rs. 246.45,+0.02%), among others.
The top losers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 1738.10,-2.61%), Bharti Airtel Ltd. (Rs. 1879.75,-2.53%), Mahindra & Mahindra Ltd. (Rs. 3399.90,-2.42%), Bajaj Finserv Ltd. (Rs. 1992.70,-2.38%), InterGlobe Aviation Ltd. (Rs. 4823.05,-2.32%), among others.
Among sectors, IT index was at 29754.94 up by 79.86 points or by 0.27%. L&T Technology Services Ltd. (Rs. 3502.55,+5.66%), Netweb Technologies India Ltd. (Rs. 3858.85,+4.36%), Affle 3I Ltd. (Rs. 1375.00,+3.45%), RateGain Travel Technologies Ltd. (Rs. 525.95,+2.65%), D-Link (India) Ltd. (Rs. 417.00,+1.91%),.
On the flip side, Auto index was at 62236.87 down by -1144.75 points or by -1.81%. Sundram Fasteners Ltd. (Rs. 874.00,-3.86%), UNO Minda Ltd. (Rs. 1183.80,-3.71%), Balkrishna Industries Ltd. (Rs. 2375.00,-3.52%), Mahindra & Mahindra Ltd. (Rs. 3399.90,-2.42%), Maruti Suzuki India Ltd. (Rs. 14869.55,-2.26%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 4538 , shares advanced were 1766 while 2582 shares declined and 190 were unchanged.