Sensex Plunges Over 1,000 Points, Nifty Slides 1.3% To End Second Day In Red

Indian equity markets ended sharply lower on Friday, marking a second consecutive session of losses amid heightened global concerns over AI-led disruption to India’s outsourcing model.

The BSE Sensex plunged 1,048 points, or 1.25 per cent, to close at 82,626. The Nifty 50 dropped 336 points, or 1.30 per cent, settling at 25,471.

Selling pressure was broad-based across sectors. The Nifty Metal emerged as the top loser, declining 3.31 per cent, followed by Nifty Realty, which fell 2.23 per cent.

Nifty Midcap 100 slipped 1.71 per cent, while the NSE Small Cap 100 declined 1.79 per cent, mirroring weakness in the benchmark indices. The Nifty Next 50 tumbled 1.56 per cent under heavy selling pressure.

The Nifty IT, after falling more than 4 per cent intraday, recovered over 1,000 points from the day’s low but still ended 1.44 per cent lower. Nifty FMCG shed 1.90 per cent.

Market breadth remained weak, with 44 of the 50 Nifty constituents closing in the red.

Analysts noted that defensive sectors showed relative resilience but failed to offset widespread selling, reflecting a cautious and risk-averse sentiment among investors.

The Nifty opened gap-down and slipped below its key 21-, 50-, and 100-day moving averages of 25,480, 25,770, and 25,690, respectively, and is now attempting to fill last week’s gap.

“Bank Nifty slipped below a short-term consolidation range, indicating minor profit booking after the recent up move. However, the index continues to trade above its 20-day moving average placed near 59,700, which remains a crucial short-term support,” said Vatsal Bhuva, technical analyst at LKP Securities.

The rupee weakened slightly by Rs 0.06 to 90.61 against the dollar, while the dollar index remained flat near 97.

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