The equity benchmark indices snapped their three-day winning run on Friday as investors booked profits at higher levels, with selling pressure seen in IT, auto and FMCG shares, however, the domestic markets notched a third consecutive weekly gain - their longest winning streak in five months after gaining over 1 percent on a weekly basis.
Market sentiment was also weighed down after the US administration withdrew the sanctions waiver granted to India for developing Iran’s Chabahar port.
Sensex tanked 387.73 points or 0.47 percent to settle at 82,626.23. During the day, it dropped 528.04 points or 0.63 percent to 82,485.92. The Nifty declined 96.55 points or 0.38 percent to 25,327.05.
HCL Tech, ICICI Bank, Titan, Trent, Kotak Mahindra Bank, Hindustan Unilever, Mahindra & Mahindra and HDFC Bank were the major laggards. However, Adani Ports, Bharti Airtel, SBI, NTPC and Sun Pharma were among the gainers.
Among sectoral indices, IT, FMCG, private banks and consumer durables shed up to 1 percent.
The Bank Nifty index declined 0.56 percent to 55,411.55, snapping a 12-session winning streak. HDFC Bank, Titan, HCL Tech, ICICI Bank and Kotak Mahindra Bank were among the major laggards, falling up to 1.5 per cent.
Bank Nifty snaps 12-day rally on profit booking; ICICI, HDFC Bank drag, 55,300 eyed as key support
Adani Group stocks bucked the trend, rising sharply after market regulator Sebi gave a clean chit to the conglomerate and its chairman Gautam Adani in a stock manipulation case. Shares of Adani Enterprises, Adani Power, Adani Green Energy and Adani Total Gas surged up to 10 percent.
Sebi's clean chit lifts Adani Group stocks, paves way for fresh re-rating
Pharma, PSU Bank and Oil & Gas indices managed to stay in the green, gaining up to 1.2 per cent.
In the broader market, midcap and smallcap indices were almost flat but held in positive territory. The Nifty Midcap 100 edged up 0.07 per cent, while the Nifty Smallcap 100 gained 0.08 per cent.
Among individual stocks, Vodafone Idea jumped over 9 per cent after the government told the Supreme Court it was not opposing the telecom operator’s AGR plea. Earlier this month, the company had challenged an additional AGR demand of Rs 9,450 crore by the Department of Telecommunications.
In the smallcap segment, Redington rose more than 9 per cent to hit an intraday high of Rs 314.40 as iPhone 17 sales opened in India. The company is a key distributor of Apple products in the domestic market.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index and Shanghai's SSE Composite index settled lower while Hong Kong's Hang Seng ended in positive territory.
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