Noida, May 8 (APAC Media): Indian equity markets ended sharply lower on Friday as selling pressure in banking and financial stocks dragged the benchmark indices down.
The weakness extended for the second straight session, reflecting cautious investor sentiment amid global and domestic uncertainties.
The BSE Sensex closed 516 points, or 0.66%, lower at 77,328.19, while the NSE Nifty 50 settled at 24,176.15, down 151 points, or 0.62%. During the day, both indices remained under pressure, with broader market sentiment turning negative in the second half of trade.
Banking stocks were among the biggest losers of the session.
Heavyweights such as State Bank of India, HDFC Bank, ICICI Bank, and Axis Bank witnessed sustained selling, making them the top drags on the Sensex.
The financial sector’s weakness weighed heavily on the overall market, offsetting mild gains in select defensive sectors.
Despite the decline in frontline indices, broader markets showed relative resilience. Mid-cap and small-cap stocks managed to outperform, with small caps even closing marginally in the green. This divergence indicated selective buying interest outside large-cap financials.
Market analysts attributed the fall to multiple factors, including persistent foreign fund outflows, volatility in global markets, and concerns over macroeconomic stability. Rising crude oil prices and geopolitical tensions also contributed to cautious sentiment among investors.
The market breadth remained weak, with more stocks declining than advancing on the BSE. Sentiment was further dampened as traders preferred profit-booking after recent gains in select sectors.
Overall, the session highlighted continued volatility in Indian equities, with banking stocks remaining the key pressure point. Investors are now watching upcoming global economic cues and domestic policy developments for further direction in the market.
With benchmarks slipping below crucial levels, analysts expect range-bound and volatile trading in the near term, especially if foreign inflows remain inconsistent and global risk factors persist.
Disclaimer:Â Views expressed are those of experts and do not reflect APAC Media. This is for informational purposes only, not financial advice. We are not responsible for investment decisions. Please consult a qualified financial advisor before investing.
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