Benchmark indices concluded Friday’s trading session in negative territory, breaking a six-day streak of gains, as concerns over trade policy developments and profit-taking at elevated levels affected investor sentiment. The Sensex decreased by 344.52 points, or 0.41 percent, to end at 84,211.88, while the Nifty 50 closed at 25,795.15, down 96.25 points, or 0.37 percent.
The market retreat followed comments from Commerce Minister Piyush Goyal, who reiterated India’s cautious approach to trade agreements, stating that the country would not rush into deals with restrictive conditions. His remarks dampened expectations for an early trade agreement between India and the United States, leading to a wave of profit-booking across various sectors, according to Ponmudi R., CEO of Enrich Money.
Sector performance was varied, with the Nifty Metal index emerging as the top performer, rising by 1.03 percent. Nifty Healthcare and Nifty Private Banks were among the poorest performers. Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services, noted that the Nifty Metal index gained 0.9 percent, buoyed by a rally in global metal prices following the announcement of an upcoming meeting between the Presidents of the U.S. and China on October 30.
Among individual stocks, Hindalco was a main contributor to the gains, surging 4.11 percent to close at ₹825.00, up from ₹792.40. Additionally, ICICI Bank increased by 1.05 percent to ₹1,378.00, and Bharti Airtel rose by 1.00 percent to ₹2,028.00. Other gainers included Shriram Finance, which advanced 0.97 percent to ₹716.50, and ONGC, which climbed 0.94 percent to ₹254.68.
Conversely, Cipla was the largest loser, falling 3.68 percent to ₹1,584.60 from ₹1,645.10. Hindustan Unilever also declined by 3.33 percent to ₹2,515.00, and Max Healthcare slipped 2.25 percent to ₹1,183.70. UltraTech Cement and Adani Ports decreased by 1.93 percent to ₹11,910.00 and 1.82 percent to ₹1,426.70, respectively.
The broader markets showed signs of consolidation, with the Nifty Midcap 100 slipping 0.24 percent and the Nifty Smallcap 100 dropping 0.21 percent. Market breadth turned negative, with 2,416 stocks declining compared to 1,771 advances on the BSE.
Foreign Institutional Investors became net sellers after five consecutive days of purchasing, withdrawing ₹1,166 crore on Thursday. In contrast, Domestic Institutional Investors provided a counterbalance with net inflows of ₹3,893 crore.
In the currency market, the rupee made modest gains, trading up 0.07 paise at 87.74. Jateen Trivedi, VP Research Analyst at LKP Securities, noted that a stable dollar index and a correction in bullion prices alleviated import pressure.
Gold prices faced pressure due to profit-taking from overbought levels. Trivedi commented that prices have corrected over 3.40 percent this week, currently hovering around ₹1,22,000 as traders await crucial U.S. CPI data.
Looking ahead, market participants will closely monitor the quarterly results of Kotak Mahindra Bank set to be announced over the weekend, along with U.S. retail inflation data. According to Khemka, “Overall, we expect Indian equities to remain range-bound, tracking global cues, upcoming Q2 results, and macroeconomic data.”
Published on October 24, 2025
