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Sensex, Nifty snap 6-day winning streak amid US-China trade tension

Indian stock markets ended lower on Friday, breaking a six-day winning streak, as investor sentiment weakened amid US-China trade tension. At the closing bell, the Sensex fell 344.52 points, or 0.41 per cent, to settle at 84,211.88, while the Nifty declined 96.25 points, or 0.37 per cent, to end at 25,795.15.

Among major laggards on the Sensex were Hindustan Unilever (HUL), UltraTech Cement, and Titan, which weighed on the indices. On the other hand, ICICI Bank, Bharti Airtel, Bharat Electronics Limited (BEL), and Sun Pharma provided some support, emerging as the top gainers of the day.

Sector-wise, the Nifty Metal index led the gains, rising 1.03 per cent, followed by the Nifty Oil and Gas index, which was up 0.2 per cent. However, FMCG stocks came under pressure, with the Nifty FMCG index slipping 0.75 per cent, making it the biggest sectoral loser, followed closely by PSU Bank, which was down 0.74 per cent.

In the broader market, both midcap and smallcap stocks saw mild profit booking. The Nifty Midcap 100 closed 0.24 per cent lower, while the Nifty Smallcap 100 index fell 0.21 per cent. Analysts said that concerns over renewed US-China trade tensions and rising oil prices amid US sanctions on Russia dampened market mood, prompting investors to take a cautious stance ahead of the weekend.

The rupee appreciated 10 paise to close at 87.78 (provisional) against the US dollar on Friday, supported by optimism around India-US trade talks and a decline in global crude oil prices. However, FII outflows, a stronger dollar against foreign currencies, and a weak sentiment in the domestic equity markets restricted sharp gains in the local unit, according to forex traders.

 

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