The Indian stock market ended its second straight session with deep cuts, largely weighed down by select heavyweights including Bajaj Finance, Infosys, and HDFC Bank, which dragged the benchmark indices down by nearly 1%.
The Nifty 50 ended the session with a drop of 0.88%, falling below the 24,900 mark to settle at 24,842 points, while the S&P BSE Sensex closed with a decline of 0.85% at 81,477. The sharp selling over the last two sessions also pushed both indices to extend their weekly losses for a fourth straight week, the longest weekly losing streak since September 2024.
The broader markets witnessed even steeper selling, with the Nifty Smallcap 100 index ending with a sharp cut of 2.5% and the Nifty Midcap 100 index falling by 1.63%. Both indices closed the week with losses of up to 3.47%.
While the overall market continues to remain under pressure, select export-linked stocks, from leather, textiles, and pharmaceuticals sectors, performed well. This followed the signing of a free trade agreement (FTA) between India and Britain on Thursday during Prime Minister Narendra Modi’s visit to London.
The deal aims to lower tariffs on goods ranging from textiles to whisky and cars, while improving market access for businesses. Although the FTA should boost sentiment, analysts said the market is unlikely to see any major upside until there is clarity on U.S. trade negotiations.
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