The Indian stock market witnessed another day of subdued performance, with the benchmark indices closing marginally lower. The Nifty 50 extended its losing streak to seven consecutive sessions, while broader markets showed resilience.

Market Performance

The Nifty 50 declined by 20.00 points (0.08%) to close at 24,634.00, marking its seventh straight session of losses. Similarly, the Sensex dropped 61.00 points (0.08%) to end at 80,364.00. The weakness in the market was primarily driven by large-cap stocks.

However, broader markets outperformed the benchmarks:

• Nifty Midcap 100 gained 154.00 points, closing at 56,533.00
• Nifty Bank rose by 72.00 points, ending at 54,461.00

The market breadth remained mixed, with an advance-decline ratio of 1:1, indicating a balanced sentiment among investors.

Sector-wise Performance

Oil Marketing Companies Rally

Oil marketing companies saw significant gains, rallying 3-5% after Oil Minister Hardeep Singh Puri highlighted their undervaluation. This statement from the minister seems to have boosted investor confidence in the sector.

Banking Sector

IndusInd Bank stood out in the banking sector, gaining 1.00% following an upgrade from Morgan Stanley. This positive outlook from a major financial services firm likely contributed to the stock's upward movement.

Notable Gainers

Several stocks saw notable gains during the trading session:

1. Bharat Electronics: Up 1.00% on securing a ₹30,000 crore order from the Indian Army
2. Muthoot Finance and Manappuram Finance: Both up 2.00% each, benefiting from rising gold prices
3. Oil India: Gained 2.00% following a natural gas discovery
4. Indian Railway Finance Corporation: Rose 2.00% after announcing ₹20,000 crore loan agreements

Significant Movers

Some stocks experienced substantial movements:

1. Vascon Engineers: Surged 20.00% after signing a Memorandum of Understanding (MoU) with Adani Infra
2. Paradeep Phosphates: Jumped 7.00% on the commissioning of a new plant
3. Wockhardt: Soared 15.00% following US pharma tariff exemptions

Decliners

Garden Reach Shipbuilders saw a decline of over 4.00%, primarily due to profit-taking by investors.

Conclusion

The Indian stock market displayed a mixed sentiment, with benchmark indices slightly down but broader markets showing resilience. While large-cap stocks faced some pressure, several mid-cap and sector-specific stocks demonstrated strength, driven by company-specific developments and sectoral factors. Investors should continue to monitor global cues and domestic economic indicators for further market direction.

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.