Sensex sinks 467 points as markets slide
Indian benchmark indices ended lower on Friday, wrapping up the week with broad-based losses. The Sensex dropped 466.75 points, or 0.55 percent, to close at 83,938.71, while the Nifty fell 155.75 points, or 0.60 percent, to 25,722.10.
Analysts noted that the market’s broader structure remains intact as long as Nifty holds above 25,660. A close below that level could push it toward 25,400–25,250, while a sustained move above 26,000 may renew bullish momentum toward 26,150–26,300.
Most Sensex constituents declined. Only a few heavyweights—BEL, Larsen & Toubro, TCS, ITC, and State Bank of India—ended higher. Major laggards included NTPC, Kotak Mahindra Bank, Bajaj Finserv, ICICI Bank, and HDFC Bank, with some falling as much as 3.45 percent.
Broader markets also weakened. The Nifty Midcap 100 slipped 0.45 percent, and the Nifty Smallcap 100 fell 0.48 percent. Among sectors, only PSU Banks and oil and gas companies posted gains. Metals and Media led the losses, each down over 1 percent.
Market watchers attributed the decline to cautious global sentiment, a strong U.S. dollar, hawkish comments from Fed Chair Powell, and unmet expectations on U.S.-China trade talks. Renewed selling by foreign institutional investors and profit-booking ahead of the weekend added to the pressure. Experts expect the “buy on dips” strategy to remain the preferred approach, citing solid quarterly optimism.
