Markets deepened their decline in afternoon trading on Friday, with both benchmark indices extending morning losses as investors continued to digest the impact of fresh US tariff threats and persistent foreign fund outflows. The BSE Sensex traded 354.62 points lower at 80,830.96, down 0.44 per cent from Thursday’s close of 81,185.58, while the Nifty 50 fell 134.40 points to 24,633.95, declining 0.54 per cent from its previous close of 24,768.35 at 12.45 pm.
Pharmaceutical stocks emerged as the biggest casualties in mid-session trading, with the sector bearing the brunt of concerns over potential US trade restrictions. Sun Pharma led the losers on the Nifty 50, plunging 4.45 per cent to ₹1,630.70, followed by Dr Reddy’s Laboratories which declined 4.11 per cent to ₹1,218.10. Cipla also joined the pharma sell-off, dropping 3.22 per cent to ₹1,504.50.
The broader market sentiment remained weak, with steel and energy stocks also under pressure. Tata Steel fell 2.77 per cent to ₹153.56, while ONGC declined 2.49 per cent to ₹235.00, reflecting investor concerns over the potential impact of trade tensions on commodity-dependent sectors.
However, select consumer and auto stocks provided some respite to the overall market decline. Trent emerged as the top gainer, surging 2.78 per cent to ₹5,157.50, while Eicher Motors advanced 2.62 per cent to ₹5,540.00. Asian Paints gained 2.15 per cent to ₹2,447.60, and Hindustan Unilever climbed 1.38 per cent to ₹2,555.90. ITC rounded out the top five gainers with a 1.00 per cent increase to ₹416.05.
The market breadth remained weak across the broader indices, with the Nifty Next 50 falling 0.77 per cent to 66,576.20 and the Nifty Midcap 100 declining 0.66 per cent to 57,021.60. The financial services sector showed relative resilience, with the Nifty Financial Services index down just 0.35 per cent to 26,557.55, while the Nifty Bank index fell 0.34 per cent to 55,773.25.
On the BSE, market participation remained subdued with 4,014 stocks traded, of which 2,277 declined against 1,545 advances, while 192 remained unchanged. The session saw 127 stocks hit 52-week highs compared to 63 touching 52-week lows, with 198 stocks in the upper circuit and 190 in the lower circuit.
The continued weakness comes after President Trump’s announcement of 25 per cent tariffs on Indian imports, which has particularly impacted export-oriented sectors. Foreign institutional investors extended their selling streak with outflows of ₹5,588 crore on July 31, though domestic institutional investors provided support with net purchases of 6,372 crore rupees.
Published on August 1, 2025