IT, metal, oil & gas stocks drag Sensex, Nifty lower

The domestic benchmarks settled weaker on Friday, with the Nifty falling below 24,500 after pressure in auto, IT, and metal names outpaced strength in banking stocks.At close, the Sensex was down 270.92 points or 0.34 percent at 79,809.65, and the Nifty was down 74.05 points or 0.30 percent at 24,426.85. About 1838 shares advanced, 2052 shares declined, and 147 shares unchanged.
Shriram Finance, ITC, Bharat Electronics, Trent, Asian Paints were top gainers on the Nifty, while losers included M&M, Infosys, Apollo Hospitals, Adani Enterprises, Reliance Industries.On the sectoral front, metal, IT, realty, auto shed 0.5-1%, while Capital Goods, Consumer Durables, media, FMCG index rose 0.2-1%.BSE Midcap index shed 0.4 percent and smallcap index down 0.3 percent.
Rupee Close:
On 29 Aug'25, the Indian rupee depreciates 61 paisa to close at all time low of 88.19 against the US dollar on Friday, according to information.
Trading Guide:
Vinod Nair, Head of Research, Geojit Investments stated, investor sentiment remained cautious as markets attempted to digest the full impact of the US tariff. The persistence of this issue is likely to heighten the future competitiveness of India's exports in some areas. While generally the pressure is also likely to weigh on INR, driving it to depreciation. Equity benchmarks underperformed, with mid- and small-cap segments particularly affected by risk aversion and stretched valuations.In contrast, FMCG stocks sustained their upward momentum, supported by expectations of GST rate rationalisation and stronger consumer demand. However, the full impact of these on consolidated fiscal in the short term has to be reviewed. 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.
Market experts recommended five shares to buy on Friday- Thirumalai Chemicals, Sundram Fasteners, Goodluck India, Waaree Energies, Sudarshan Chemical.

(Business Correspondent)