Indian markets opened on a weak note on Friday, with the BSE Sensex falling over 350 points and the Nifty50 slipping below 25,550. Investors stayed cautious after the RBI kept interest rates unchanged at 5.25%, while global tech sell-offs and profit-taking added to the downward pressure.
IT stocks led the losses, with TCS and Infosys falling nearly 2%, and all ten Nifty IT constituents trading in the red. Metals and energy stocks, including Tata Steel and NTPC, also saw declines, further weighing on the market.
On the upside, Pharma and FMCG stocks gained as investors sought safer bets amid volatility. Companies like Sun Pharma, Divi’s Labs, and Hindustan Unilever posted modest gains, helping to partially cushion the broader market’s fall.
Global markets influenced domestic trading. Technology shares faced selling pressure in the US and Asia, while futures tied to the S&P 500 were lower, reinforcing the risk-off sentiment. Precious metals like gold and silver extended losses due to a stronger US dollar and weaker global demand.
Market participants are now focusing on upcoming corporate earnings and economic data for fresh cues. While the RBI’s policy was neutral, continued weakness in IT and metals, alongside gains in Pharma and FMCG, is likely to keep trading cautious in the near term.
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