India's stock markets closed lower on Friday, impacted primarily by declines across multiple key sectors. The Nifty 50 index on the National Stock Exchange (NSE) lost 0.95%, settling at a new low for the past three months. Similarly, the Bombay Stock Exchange (BSE) Sensex 30 index fell 0.94%, confirming the downward momentum in major Indian bourses.
The sectors recording the most notable losses were Real Estate, Power, and Capital Goods, which collectively exerted pressure on the broader indices. Market breadth was weak, with declining stocks substantially outnumbering advances on both exchanges. On the NSE, 1,905 shares declined versus 597 advances, with 33 unchanged. The BSE recorded 2,717 decliners against 1,270 advancing stocks, while 140 stocks ended without change.
Among the day's individual stock performers on the NSE, Dr Reddy's Laboratories Ltd delivered the strongest gains, rising by 1.72% or 20.90 points to close at 1,238.40. Other notable gainers included Hindalco Industries Ltd., which advanced 0.77% to finish at 951.75, and Oil and Natural Gas Corporation Ltd, which also edged higher by 0.73% to 245.79 in late trading.
On the downside, Adani Enterprises Ltd posted the sharpest decline, plunging 10.76% or 224.60 points to conclude at 1,861.80, marking a 52-week low. Similarly, Adani Ports and Special Economic Zone Ltd declined 7.02% to 1,314.90, while Eternal Ltd decreased 5.74% to 260.05.
The BSE Sensex's top performers mirrored some NSE trends, with Tech Mahindra Ltd rising 0.71% to 1,700.00, Hindustan Unilever Ltd increasing 0.67% to 2,406.00, and Infosys Ltd gaining 0.35% to close at 1,669.25. Conversely, the biggest fallers included Adani Ports and Special Economic Zone Ltd (-6.95%), Eternal Ltd (-5.82%), and Axis Bank Ltd. (-3.12%).
Market volatility in India surged, as reflected by the India VIX index which measures implied volatility in Nifty 50 options. It rose 7.57% to 14.36, marking a six-month high and indicating increased uncertainty among investors.
In the commodities arena, February gold futures climbed 0.35% (up $17.06), reaching $4,930.46 per troy ounce. For energy markets, crude oil futures for March delivery increased by 1.47%, hitting $60.23 a barrel, while Brent crude gained 1.37%, closing at $64.94 a barrel.
Currency markets showed the Indian rupee weakening slightly against major currencies. The USD/INR pair increased 0.33% to 91.85, while the EUR/INR rose 0.16% to 107.81. The US Dollar Index Futures edged up marginally by 0.01% to 98.19.