Equities End Lower As Reliance Drag And Tariff Concerns Weigh On Sentiment

Indian equity markets closed in the red on Friday, pressured by selling in heavyweight stocks led by Reliance, as investors stayed cautious over the impact of US tariffs.

The Sensex slipped 270.92 points, or 0.34 per cent, to end at 79,809.65.

The index opened flat at 80,010.83, close to the previous session’s close of 80,080.57, and remained range-bound for most of the day before sliding in the final hour to an intra-day low of 79,741.76.

The Nifty also ended weak at 24,426.85, down 74.05 points or 0.30 per cent.

Vinod Nair, Head of Research, Geojit Financial Services, stated, “Investor sentiment remained cautious as markets attempted to digest the full impact of the US tariff. The persistence of this issue is likely to heighten the future competitiveness of India’s exports in some areas.”

He added that the currency was also under pressure, with the rupee facing depreciation.

Risk aversion hit mid- and small-cap stocks hardest, while FMCG counters held up on expectations of GST rationalisation and resilient consumer demand.

Top Losers and Gainers

Among Sensex laggards were Mahindra & Mahindra, Reliance, Infosys, Tata Motors, NTPC, Tech Mahindra, HDFC Bank, Titan and Axis Bank.

On the gainers’ side were ITC, BEL, L&T, Tata Steel, PowerGrid, Sun Pharma and HCL Tech.

Sectoral performance was mixed. Nifty Financial Services fell 72.60 points (0.28 per cent), Nifty Bank dropped 164 points (0.31 per cent), Nifty Auto lost 222 points (0.88 per cent), and Nifty IT declined 307 points (0.87 per cent). By contrast, Nifty FMCG climbed 528 points (0.95 per cent).

Broader indices also edged lower, with Nifty Smallcap 100 down 67 points (0.39 per cent), Nifty Midcap 100 shedding 320 points (0.57 per cent), and Nifty 100 slipping 75 points (0.30 per cent).

The rupee, meanwhile, hit a record low of 88.20, weakening by 0.60 (0.70 per cent) as tariff concerns raised the risk of a wider fiscal deficit.

“While the upcoming GST council decision is likely to lend some support, markets are awaiting clarity on the final GST changes before taking a decisive view. Sentiment remains weak, and the rupee will likely trade within a range of 87.65–88.45,” asserted Jateen Trivedi of LKP Securities.

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