Sensex & Nifty End Week In the Red, Broad Sell-Off Hits Markets As Global Cues & Profit Booking Weigh On Investor Sentiment

Mumbai: Sensex and Nifty wrapped up the week on a sour note, dragged down by heavy selling across pretty much every sector. By the closing bell on Friday, the Sensex had dropped 466.75 points (that’s about 0.55 percent) to finish at 83,938.71. The Nifty wasn’t far behind, slipping 155.75 points, or 0.60 percent, closing at 25,722.10.

Market analysts say the bulls just ran out of steam for now, but the bigger picture isn’t broken as long as the Nifty holds above 25,660. If it dips below that, things could get uglier, possibly sliding toward 25,400 or even 25,250. But if the Nifty manages to bounce back above 26,000, expect the bulls to charge again, with targets in the 26,150–26,300 zone.

The sell-off didn’t spare many stocks. Most names on the Sensex ended in the red. A few heavyweights—BEL, Larsen & Toubro, TCS, ITC, and SBI—managed to resist the tide and finish higher, but there weren’t many bright spots. Big names like NTPC, Kotak Mahindra Bank, Bajaj Finserv, ICICI Bank, and HDFC Bank took the hardest hits, some tumbling as much as 3.45 percent.

It wasn’t just the large-caps feeling the pain. Broader markets looked shaky too, with the Nifty Midcap 100 and Smallcap 100 both down a little under half a percent.

Looking at sectors, only Nifty PSU Bank and Oil & Gas managed to eke out gains, up 1.5 percent and 0.07 percent respectively. Everywhere else, it was red across the board. Nifty Metal and Media were especially battered, both losing over 1 percent.

What’s behind the negativity? Investors seemed nervous, cashing out profits before the weekend. Global cues weren’t helping, and a stronger dollar plus not-so-great news on US-China trade talks added to the caution. Foreign investors turned sellers again, especially after Fed Chair Powell struck a hawkish tone.

Still, market experts say optimism hasn’t vanished. They believe buying on dips will stick around as a favored strategy, with solid expectations for the coming quarters. So, while the mood was gloomy today, there’s still a sense that the market isn’t done just yet.

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