Sensex, Nifty Extend Declines For Eighth Day
(RTTNews) - Indian shares extended losses for an eighth straight day running on Friday despite positive cues from global markets, a weaker dollar and a dip in U.S. Treasury yields.
Investors were nervous despite U.S. President Donald Trump announcing a delay in implementing reciprocal tariffs until April.
The delay eased panic in markets but there's still considerable uncertainty over the Trump administration's policies on trade, tariffs and broader foreign policy.
The benchmark 30-share BSE Sensex ended the session down 199.76 points, or 0.26 percent, at 75,939.21.
The broader NSE Nifty index closed at 22,929.25, down 102.15 points, or 0.44 percent, from its previous close.
The BSE mid-cap and small-cap indexes fell 2.6 percent and 3.2 percent, respectively. The market breadth was negative, with 3,317 shares declining while 684 shares advanced and 82 shares ended unchanged.
Among the prominent decliners, Grasim, Trent, Adani Enterprises, BEL and Adani Ports tumbled 3-5 percent.
Pharma stocks fell across the board after Trump teased imposing tariffs on several import heavy sectors, including pharmaceuticals in addition to his plans of imposing reciprocal tariffs.
Dr Reddy's Laboratories, Sun Pharma, Lupin and Aurobindo Pharma lost 2-4 percent.
