Markets Tank Nearly 1%, Sensex Dips Below 82,000 on Sell-off
Markets Tank Nearly 1%, Sensex Dips Below 82,000 on Sell-off
Indian indices slip as the rupee hits a record low and FIIs pull out, signaling a cautious mood ahead of earnings and global cues.
Indian equity benchmarks closed nearly 1% lower on Friday as a broad-based sell-off spooked investors. The rupee depreciated to a fresh record low against the dollar, reinforcing a risk-off mood as traders moved toward safer assets amid mixed global cues and domestic earnings jitters.
The 30-share BSE Sensex tumbled 769.67 points, or 0.94%, to finish at 81,537.70. During the session, it slipped as low as 81,471.82, reflecting the volatility that dominated trading. The NSE Nifty 50 ended at 25,048.65, down 241.25 points, or 0.95%, after testing an intraday low of 25,025.30.
Among the Sensex constituents, laggards included Adani Ports, Eternal, IndiGo, Axis Bank, Bajaj Finserv, Power Grid, Bharat Electronics Ltd, State Bank of India, Maruti Suzuki India, Bajaj Finance, NTPC, Trent, Larsen & Toubro and Reliance Industries. On the flip side, gainers featured Tech Mahindra, Hindustan Unilever, Infosys, Asian Paints, Tata Consultancy Services, Titan and UltraTech Cement.
Foreign institutional investors offloaded equities worth ₹2,549.80 crore on Thursday, while domestic institutional investors bought stocks worth ₹4,222.98 crore, underscoring a split in market participation as foreign flows remained cautious. Realty and PSU bank stocks underperformed on execution-related delays and profit booking, while Adani Group stocks came under pressure amid reports of potential U.S. scrutiny, adding to the negative backdrop.
Analysts said the broader sell-off reflected a risk-off stance that fed on crude-oil movements, a sharp depreciation in the rupee, and outsized valuations in premium Indian names. Investors awaited fresh domestic triggers and global cues to steer next week’s trading, hoping for some stabilization as earnings season progresses.
