The BSE Sensex declined 270.92 points, or 0.34%, to finish at 79,809.65, while the NSE Nifty slipped 74.05 points, or 0.30%, to settle at 24,426.85.
Top Movers
On the 30-stock Sensex, shares of Mahindra & Mahindra, RIL, Infosys, NTPC and Tata Motors led the laggards, falling between 1% and 3%.Reliance, the third-heaviest stock on the Nifty 50, dropped 2.2% even after Chairman Mukesh Ambani told shareholders at the conglomerate’s annual meeting that the long-anticipated initial public offering of Reliance Jio, set to be one of the largest in Indian market history, would take place in the first half of 2026.
Sectorally, oil-and-gas companies led the declines with a slide of more than 1%, while IT stocks, heavily dependent on U.S. demand, fell 0.9%.
Meanwhile, midcap shares slipped 0.6% and smallcaps lost 0.4%.
For the week, both the Sensex and Nifty lost about 1.8%.
Sentiment was pressured after United States on Wednesday slapped an additional 25% tariff on Indian goods in response to India’s purchases of Russian oil, effectively doubling the existing levy.
Investors are also bracing for fresh domestic growth data, due after market close, with April–June expansion expected to moderate.
Globally, attention is fixed on a key U.S. inflation reading later in the day that could shape expectations for the Federal Reserve’s rate path.
Expert Views
Investor sentiment remained cautious as markets attempted to digest the full impact of the U.S. tariff and the persistence of this issue is likely to heighten the future competitiveness of India’s exports in some areas, said Vinod Nair, Head of Research at Geojit Investments.
“Generally, the market still perceives the tariff-related disruptions as temporary, and optimism hinges on progress in trade negotiations in the future. However, lack of strong interaction between both parties is increasing the uncertainty, adding confusion to the market,” said Nair.
On a technical basis, the Nifty index has slipped below all key short-term moving averages, while momentum indicators have turned negative on both daily and weekly charts, said Nilesh Jain, Head of Technical and Derivatives Research Analyst at Centrum Broking.
“Despite being in oversold territory, there are still no signs of short covering, suggesting that the weakness may persist for some more time. On the downside, the 200-DMA at 24,070 acts as a crucial support, while on the upside, the 100-DMA at 24,700 remains an important resistance,” said Jain.
Global Markets
World equities pulled back from record highs on Friday as investors braced for U.S. inflation data expected to guide the Federal Reserve’s increasingly politicized interest-rate path.
The retreat came at the end of a buoyant month for world markets, though nerves have been stirred by bond-market jitters tied to President Donald Trump’s decision to oust Fed policymaker Lisa Cook and by renewed political turbulence in France.
Europe’s STOXX 600 headed for their first weekly losses in four. France’s CAC 40 and Germany’s DAX each slipped 0.6%, putting them on track for rare monthly declines even as global equities rallied.
In Asia, performance was mixed. Chinese stocks surged more than 10% in August, their strongest month in nearly a year, on optimism over an economic rebound led by technology. Japan’s Nikkei closed lower on the day but still advanced 4% this month, extending a five-month streak of gains alongside MSCI’s Asia-Pacific index excluding Japan.
In commodities, gold eased 0.2% to $3,408.78 an ounce, while bitcoin slid 2% to just below $110,000.
as a Reliable and Trusted News Source