Markets extend losses on global sell-off, Sensex tanks 586 points

Mumbai: Equity benchmark indices Sensex and Nifty declined sharply for the second straight session on Friday, tracking deep losses in pharma, metal, and IT stocks amid trade-related concerns and widespread selling pressure in global markets.

Besides, persistent selling by foreign investors added to the gloom, according to experts.

In a volatile trade, the 30-share BSE Sensex tumbled 585.67 points or 0.72 per cent to settle at 80,599.91.

As many as 2,712 stocks declined while 1,306 advanced and 151 remained unchanged on the BSE.

The 50-share NSE Nifty declined 203 points or 0.82 per cent to 24,565.35.

On the weekly front, the BSE benchmark tanked 863.18 points or 1.05 per cent, and the Nifty dropped 271.65 points or 1.09 per cent.

US President Donald Trump unveiled sweeping new tariffs on dozens of countries, including 25 per cent duties for goods from India, marking a new era of American protectionism that triggered fresh tensions and concerns over a much wider disruption in the global trade landscape.

From the Sensex firms, Sun Pharma tumbled 4.43 per cent after the company reported a 20 per cent year-on-year decline in consolidated net profit to Rs 2,279 crore for the first quarter ended June 30, 2025. Tata Steel, Maruti, Tata Motors, Infosys, Bharti Airtel and Tech Mahindra were also among the laggards.

However, Trent, Asian Paints, Hindustan Unilever, ITC, Kotak Mahindra Bank, and Reliance Industries were the gainers.

The BSE smallcap gauge dropped 1.59 per cent, and the midcap index declined by 1.37 per cent.

Healthcare tanked 2.44 per cent, telecommunication (2.41 per cent), metal (1.94 per cent), oil & gas (1.91 per cent), teck (1.83 per cent), IT (1.81 per cent), and realty (1.78 per cent). BSE FMCG index emerged as the only gainer.

FIIs offloaded equities worth Rs 5,588.91 crore on Thursday, according to exchange data.

“Global equity markets were mostly weak over the past week, as the US tariff saga continued. The Indian equity market continued to underperform global equity markets in the past week and was down 0.8 per cent over this period,” Shrikant Chouhan, Head – Equity Research, said.

In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng settled lower.

Equity markets in Europe were trading in the red.

The US markets ended in negative territory on Thursday.

Global oil benchmark Brent crude declined 0.39 per cent to $71.42 a barrel.

On Thursday, the Sensex declined 296.28 points or 0.36 per cent to settle at 81,185.58.

The Nifty dropped 86.70 points or 0.35 per cent to 24,768.35.