The Indian equity markets witnessed a brutal sell-off on Friday, closing sharply lower as investor sentiment soured. Sensex nosedived 1,048.16 points (1.25%) to 82,626.76, and Nifty cratered 336.10 points (1.30%) to 25,471.10, reflecting broad-based weakness across the board.
Leading the decline were metal shares, which dragged Nifty Metal down 3.31% and Nifty Commodities 2.24%. Realty (down 2.23%), energy (2.04%), FMCG (1.90%), oil & gas (1.88%), PSE (1.68%), and consumption (1.63%) sectors also posted hefty losses. In the Sensex pack, blue-chip names including HUL, Eternal, Tata Steel, Titan, TCS, Power Grid, BEL, Asian Paints, M&M, HDFC Bank, HCL Tech, NTPC, Infosys, ITC, Kotak Mahindra Bank, ICICI Bank, and Indigo were among the notable decliners. Bajaj Finance and SBI stood out as rare gainers.
Midcap and smallcap indices fared no better, with Nifty Midcap 100 slumping 1.71% to 59,438 and Nifty Smallcap 100 dropping 1.79% to 17,032.90. The session began on a weak note influenced by overnight losses in the US, and momentum deteriorated through the day.
Rupak De of LKP Securities analyzed, ‘Nifty opened lower following soft US cues and ended with a big cut. India VIX has crossed above 200 DMA, indicating heightened anxiety.’ He outlined key levels: support at 25,500, potential slide to 25,000 on breach, and resistance at 25,800.
Meanwhile, oil markets added pressure, with Brent crude gaining 0.55% to $68/oz and WTI up 0.5% to $63/oz. As markets digest this setback, focus shifts to upcoming economic data and global trade developments. This sharp correction serves as a reminder of the interconnected risks in today’s financial landscape.