Key Highlights:
- Sensex falls 689.81 points and Nifty slips 205.4 points
- TCS reports weak Q1 FY25 earnings, dragging IT sector
- US-Canada tariff tensions dent global and domestic sentiment
Mumbai: On Friday, Indian stock markets closed in the red, pulled down by rising global trade tensions and a poor start to the earnings season. The Sensex fell by 689.81 points (0.83 percent) to finish at 82,500.47, while the Nifty dropped 205.4 points (0.81 percent) to end at 25,149.85.
TCS Results Shake Investor Confidence
The biggest trigger for the fall was Tata Consultancy Services (TCS) posting weaker-than-expected results for Q1 FY25. This caused a sharp selloff in IT stocks, with the Nifty IT index falling nearly 1.8 percent. Other IT firms like HCL Technologies also dropped.
Auto and Other Sectors Also Under Pressure
Auto stocks joined the decline, with the Nifty Auto index falling by nearly 1.8 percent too. Among the biggest losers on the Sensex were TCS, Mahindra & Mahindra, Tata Motors, Bharti Airtel, and Titan, losing up to 3.5 percent.
On the other hand, some stocks such as Hindustan Unilever, Axis Bank, Sun Pharma, and NTPC ended higher and provided limited support to the market.
Global Trade Issues Weigh Heavy
Investor mood worsened after US President Donald Trump imposed fresh 35 percent tariffs on Canadian imports, increasing concerns about global trade tensions. This added to already cautious market sentiment.
Mid and Small Caps Also Feel the Heat
The broader markets also saw declines. The Nifty MidCap index dropped 0.88 percent, and the Nifty SmallCap index slipped 1.02 percent, showing weakness across the board.
Some Sectors Show Strength
Despite overall weakness, FMCG and Pharma sectors managed small gains. The Nifty FMCG and Pharma indices ended in the green.
Volatility Increases Slightly
The India VIX, which measures market fear, rose 1.24 percent to close at 11.81, indicating slightly higher uncertainty among investors.
(With IANS Inputs)
