Indian stocks experienced a decline on Friday, interrupting a sequence of three consecutive sessions of gains, and marking just the second loss in the past nine trading sessions. This downturn arises as markets continue to evaluate global interest rates and the potential impact of the United States' assertive tariff policies on the Indian economy. The BSE S&P Sensex decreased by 0.5% to close at 82,626, while the NSE Nifty 50 slipped 0.4% to 25,327.
The tech sector, which had driven recent rallies through strong performance by its US counterparts and a reduction in domestic benchmark borrowing costs, largely experienced losses. Notably, HCL Tech dropped by 1.6%, with Wipro and TCS also seeing significant declines. Additionally, financial sector heavyweights such as ICICI Bank, HDFC Bank, and Kotak Mahindra Bank led sector losses, each falling close to 1%.
Conversely, companies led by Adani saw a rise in their stock prices, bolstered by the dismissal of part of the allegations from a research report by short-seller Hindenburg by regulators.
