Sensex, Nifty End Lower; Auto Stocks Hit Hard
(RTTNews) - Indian shares closed lower on Friday, with auto and healthcare stocks suffering heavy losses due to concerns over U.S. President Donald Trump's tariff threats and continued foreign selling.
Sentiment was dented by heightened uncertainty around trade and geopolitics. It is feared that any big policy shift by the Trump administration could push up inflation and keep interest rates elevated for longer.
The benchmark 30-share BSE Sensex fell 424.90 points, or 0.56 percent, to 75,311.06 while the broader NSE Nifty index closed at 22,795.90, down 117.25 points, or 0.51 percent, from its previous close.
The BSE mid-cap and small-cap indexes fell 1.2 percent and 0.4 percent, respectively. The market breadth was negative, with 2,248 shares declining on the BSE while 1,691 shares advanced and 121 shares ended unchanged.
Among the prominent decliners, Mahindra & Mahindra shares slumped 6.2 percent on worries about increasing competition in the EV space.
Adani Enterprises, Tata Motors, BPCL and Adani Ports dropped 2-3 percent.
Metal stocks bucked the weak trend, with Hindalco and Tata Steel rising around 2 percent after recent string of losses.
SBI Life, Larsen & Toubro and Eicher Motor rose between 0.7 percent and 1.6 percent.
Religare Enterprises jumped 15 percent as Burman family acquired a controlling stake in the company.
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