The Indian stock markets extended their losing streak for the sixth consecutive session, culminating in their worst weekly decline in nearly six months. The selloff was broad-based, with IT and pharmaceutical sectors leading the downturn.

Market Overview

The benchmark Sensex plummeted 733.00 points to close at 80,426.00, while the Nifty dropped 236.00 points to end at 24,655.00 on Friday. The decline was reflected in a 1:5 advance-decline ratio, indicating widespread selling pressure across the board.

Sector-wise Performance

IT Sector

The IT sector was hit particularly hard:

• The Nifty IT index posted its worst weekly fall in six months
• TCS recorded its steepest weekly drop in over five years, falling 9.00%
• Coforge tumbled 15.00%

Pharmaceutical Sector

Pharmaceutical stocks declined following U.S. tariff announcements:

• The Nifty Pharma index hit a one-month low
• Major players like Sun Pharma, Biocon, Aurobindo Pharma, Dr. Reddy's, Lupin, and Cipla faced significant losses

Market Capitalization Losses

The week saw substantial erosion in market value:

• Total market capitalization losses for the week amounted to nearly ₹16 lakh crore
• Friday alone witnessed ₹7 lakh crore being wiped out

Notable Stock Movements

Several individual stocks saw significant movements:

• L&T rose on Hyderabad Metro project updates
• Vodafone Idea fell over 8.00% after Supreme Court AGR hearing deferral
• Tata Motors gained over 1.00% on digital estate operational comments

Expert Insights

Market experts attribute the decline to various factors, including global trade tensions and sector-specific challenges. The IT sector's underperformance and the pharmaceutical sector's reaction to potential U.S. tariffs have contributed significantly to the overall market sentiment.

The Indian equity market continued its downward trend for the fifth consecutive session, with key benchmarks closing in the red. The Sensex fell 556 points to close at 81,160.00, while the Nifty dropped 166 points, ending the day at 24,891.00.

IT Sector Leads the Decline

The information technology sector was the primary contributor to the market's weakness. The Nifty IT index recorded its fifth straight day of losses, with industry giant Tata Consultancy Services (TCS) hitting a 52-week low. This prolonged slump in IT stocks has raised concerns among investors about the sector's near-term outlook.

Auto Stocks Under Pressure

The automotive sector also faced significant headwinds during the trading session. Tata Motors, a major player in the Indian auto industry, saw its shares decline by 3.00%. The drop came in the wake of cybersecurity incident updates at its Jaguar Land Rover unit, highlighting the growing importance of digital security in the automotive sector.

Real Estate Sector Weighs on Indices

Realty stocks added to the market's woes, contributing to the overall bearish sentiment. The underperformance of this sector suggests potential challenges in the real estate market, which could have broader economic implications.

Defence and Shipbuilding Stocks Outperform

In contrast to the general market trend, defence and shipbuilding stocks showed resilience and outperformed. This positive movement came on the heels of Cabinet approval for maritime development schemes, signaling potential growth opportunities in these sectors.

Hindustan Aeronautics Gains on Defence Deal

Hindustan Aeronautics Limited (HAL) bucked the negative trend, gaining 2.00% following a significant deal with the Defence Ministry. The company secured a ₹62,370.00 crore contract for Tejas Mk-1A aircraft, underscoring the government's commitment to indigenous defence production.

Copper Rally Boosts Hindustan Copper

Hindustan Copper emerged as a standout performer, rallying over 6.00%. The surge was attributed to copper prices reaching multi-month highs in the global markets, benefiting companies in the copper production and processing sector.

Market Breadth Remains Weak

Despite pockets of strength in specific sectors, the overall market sentiment remained bearish. The NSE advance-decline ratio stood at 2:5, indicating that declining stocks significantly outnumbered advancing ones.

In conclusion, the Indian stock market faced broad-based selling pressure, with IT and auto sectors leading the decline. However, select stocks in the defence and copper sectors provided some relief to investors amidst the overall negative sentiment.