Markets Snap Two-Week Winning Streak, Sensex Falls 605 Points, Nifty Drops 194 Points

Mumbai: Indian equity markets snapped a two-week gaining streak, posting their worst weekly performance in four months. BSE-listed companies lost over Rs 15 lakh crore in market value during the week. The Nifty fell nearly 2.5 percent, with all sectoral indices ending in the red. Some sectors dropped as much as 6 percent, highlighting broad-based weakness.

Sectoral Performance

The Nifty Bank index performed slightly better than other sectors but still fell 1.5 percent. The midcap index mirrored the benchmark, declining over 2.5 percent. Among Nifty stocks, Adani Enterprises, NTPC, Adani Ports, and ICICI Bank were the top losers. In the midcap space, Premier Energies, Waaree, Inox Wind, NBCC, Jindal Stainless, and HPCL suffered the most.

Friday Pressure Continues

Markets remained weak on Friday, marking the fourth straight session of losses. The Sensex dropped 605 points to close at 83,576, while the Nifty slipped 194 points to 25,683, breaking below the 25,700 level. Market breadth remained negative, with only one stock advancing for every four that declined. Over 20 Nifty stocks fell more than 1 percent, with six dropping over 2 percent.

Sector Highlights

Realty shares were the worst performers, led by Godrej Properties, amid continued foreign investor selling. Capital market stocks also faced pressure, with 360 ONE falling over 4 percent, and select capital goods names like Hitachi Energy and CG Power underperforming.

Metal stocks bucked the trend, with Nalco and Hindustan Zinc gaining. Higher crude oil prices supported upstream oil stocks, including ONGC and Oil India, which rose 1–2 percent.

Stock-Specific Moves

IEX slid 8 percent after CERC refused to withdraw the market coupling order. Manappuram Finance dropped 8 percent following reports of RBI concerns over the Bain deal. Vodafone Idea and Indus Towers ended the day below intraday highs despite AGR-related relief.