Equity indices Sensex and Nifty closed almost flat on Friday after giving up early gains in a volatile trading session, as concerns surrounding the global trade war dampened investor sentiment.
The BSE Sensex ended the day at 74,332.58, slipping 7.51 points from its previous close. It had surged to an intraday high of 74,586.43, gaining 246.34 points or 0.33% during the mid-session. Similarly, the Nifty closed at 22,552.50, up by 7.80 points. It had reached a high of 22,633.80, climbing 89 points or 0.39%.
Vinod Nair, Head of Research at Geojit Financial Services, noted that uncertainties surrounding the US tariff impositions and retaliatory actions by other countries have led to increased risk aversion and reduced appetite for equities globally. However, Indian markets have shown resilience despite the trade war concerns.
Among the gainers in the Sensex were Zomato, IndusInd Bank, NTPC, Infosys, HCL Technologies, Titan, Power Grid, Hindustan Unilever, Tech Mahindra, and ITC. On the other hand, Reliance Industries, Nestle India, Tata Motors, Adani Ports, Tata Steel, UltraTech Cement, and Kotak Mahindra Bank ended the day in the red.
Asian markets like Tokyo, Shanghai, Hong Kong, and Seoul closed lower, while European markets were trading in the negative territory at mid-session. Wall Street had also ended lower on Thursday.
Foreign Institutional Investors (FIIs) sold equities worth Rs 2,377.32 crore, whereas Domestic Institutional Investors (DIIs) bought equities worth Rs 1,617.80 crore on a net basis on Thursday.
Brent crude, the global oil benchmark, rose by 1.32% to USD 70.38 a barrel. Nair suggested that a recovery in corporate earnings could boost domestic sentiments, leading investors to favor large caps for stability in earnings and valuation comfort.
On Thursday, the Sensex had gained 609.86 points to close at 74,340.09, while the Nifty advanced 207.40 points to settle at 22,544.70.
(Source: The Hindu Business Line, Published on March 7, 2025)
