The benchmark indices traded lower on Friday amid heavy selling in IT shares after Tata Consultancy Services’ weaker-than-expected Q1 earnings and escalating global trade tensions weighing on investor sentiment.
Overseas, European stocks fell on Friday after U.S. President Donald Trump announced a 35 percent tariff on Canadian imports, starting Aug. 1. The pan-European STOXX 600 fell 0.8 percent to 548.57 but was on track for a weekly gain. The German DAX lost 1 percent, France's CAC 40 shed 0.8 percent and the U.K.'s FTSE 100 was down 0.3 percent.
Meanwhile, Indian Rupee snapped a three-day winning streak as renewed tensions continued to keep investors on the edge and closed 15 paise lower at 85.80 against the dollar on Friday.
On the corporate front, Shares of Datamatics Global Services moved higher by 10 per cent to ₹737.90 on the BSE in Friday’s intra-day trade. Hindustan Unilever shares jumped 4.6 percent. While Tata Consultancy Services, tumbled 3.5 percent after it reported a 3.3 percent quarter-on-quarter decline in constant currency revenue.
The 30-share benchmark ended at 82500.47 down by -689.81 points or by -0.83 % and then NSE Nifty was at 25149.85 down by -205.4 points or by -0.81 %.
During the day’s trade, Sensex touched intraday high of 83040.74 and intraday low of 82442.25 The NSE Nifty touched intraday high of 25322.45 and intraday low of 25129.
The top gainers of the BSE Sensex pack were Hindustan Unilever Ltd. (Rs. 2520.10,+4.61%), Axis Bank Ltd. (Rs. 1173.75,+0.79%), IndusInd Bank Ltd. (Rs. 858.70,+0.71%), Sun Pharmaceutical Industries Ltd. (Rs. 1672.50,+0.56%), NTPC Ltd. (Rs. 342.55,+0.37%), among others.
The top losers of the BSE Sensex pack were Tata Consultancy Services Ltd. (Rs. 3265.40,-3.46%), Mahindra & Mahindra Ltd. (Rs. 3074.95,-2.75%), Bharti Airtel Ltd. (Rs. 1921.90,-2.20%), Tata Motors Ltd. (Rs. 681.60,-2.00%), Titan Company Ltd. (Rs. 3358.95,-1.73%), among others.
Among sectors, FMCG index was at 20571.44 up by 91.18 points or by 0.45%. Cupid Ltd. (Rs. 118.35,+8.08%), VST Industries Ltd. (Rs. 298.25,+6.16%), Globus Spirits Ltd. (Rs. 1008.45,+4.98%), Hindustan Unilever Ltd. (Rs. 2520.10,+4.61%), Gillette India Ltd. (Rs. 10730.00,+2.56%),.
On the flip side, Auto index was at 52561.78 down by -921.42 points or by -1.72%. Apollo Tyres Ltd. (Rs. 458.75,-2.85%), Mahindra & Mahindra Ltd. (Rs. 3074.95,-2.75%), TVS Motor Company Ltd. (Rs. 2754.70,-2.67%), Bajaj Auto Ltd. (Rs. 8060.35,-2.65%), Hero MotoCorp Ltd. (Rs. 4211.15,-2.53%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 4380 , shares advanced were 1673 while 2525 shares declined and 182 were unchanged.