Sensex, Nifty Dip , IT Shares Slip Amid Trade Uncertainty

Mumbai: Stock markets closed lower in a range-bound trade on Friday following losses in IT shares and sluggish trends in Asian markets due to trade uncertainty after a US appeals court temporarily reinstated reciprocal tariffs.

The 30-share BSE Sensex declined by 182.01 points or 0.22 per cent to settle at 81,451.01. During the day, it dropped 346.57 points or 0.42 per cent to 81,286.45.The NSE Nifty dipped 82.90 points or 0.33 per cent to 24,750.70.Investors also turned cautious ahead of the release of domestic GDP data post-market hours, analysts said.

Among Sensex firms, Tech Mahindra, HCL Tech, Asian Paints, NTPC, Infosys, Nestle, Sun Pharma, and Tata Steel were the major laggards.Eternal, State Bank of India, HDFC Bank, Larsen & Toubro, Reliance Industries and Bajaj Finserv were the gainers.

In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in the negative territory.Markets in Europe were trading higher. US markets ended higher on Thursday."A range-bound movement continued in the market, with the temporary reinstatement of US tariffs by the appeal court influencing investors to stay on the sideline.

The global market may contend with macroeconomic concerns as the global trade landscape has yet to see stability, which may navigate a short-term consolidation."Meanwhile, FII inflows continued due to the volatility in the US 10-year yield and an expectation of solid domestic Q4 GDP data later today and a rate cut by RBI," Vinod Nair, Head of Research, Geojit Investments Limited, said.

Foreign Institutional Investors (FIIs) bought equities worth Rs 884.03 crore on Thursday, while Domestic Institutional Investors (DIIs) bought equities worth Rs 4,286.50 crore, according to exchange data.Global oil benchmark Brent crude climbed 0.44 per cent to USD 64.43 a barrel.

The BSE Sensex climbed 320.70 points or 0.39 per cent to settle at 81,633.02 on Thursday. The 50-share Nifty went up by 81.15 points or 0.33 per cent to 24,833.60.

Disclaimer: This story is from the syndicated feed. Nothing has been changed except the headline.

news