Nifty Ends Below 24,600 As Pharma, IT, And Realty Sectors Lead Weekly Losses

(MENAFN- AsiaNet News)

Indian equity markets ended the week in the red amid heavy selling pressure, brought on by U.S. President Donald Trump's proposed 25% tariff on Indian exports.

The Nifty 50 closed 0.82%, or 203 points, lower at 24,565.35, while the Sensex ended 0.72% lower at 80,599.91 on Friday.

Broader market indices closed in the negative, with the Nifty Midcap 50 and the Nifty Smallcap closing 1.54% and 1.77% lower, respectively.

Retail chatter surrounding the Nifty 50 increased on Stocktwits, but investor sentiment remained 'neutral' at market close. It was 'bearish' a week ago.

Nifty 50 index's Sentiment Meter and Message Volumes at 04:15 p.m. IST on August 1 |  Source: Stocktwits

Stock Moves

Barring FMCG's 0.7% gains, all sectors ended in the red. The Nifty Pharma index (-3.33%) was the biggest laggard, while IT (-1.85%), realty (-1.78%), metals (-1.97%), and PSU banks (-1.13%) also dragged the markets. 

Trent was the top gainer on the Nifty 50 index, closing 3.2% higher. Royal Enfield motorcycle maker Eicher Motors rose 2.2% after posting a 9% increase in quarterly net profit and a 15% revenue growth.

Sun Pharma was the biggest laggard on the Nifty 50 index after closing 4.5% lower. The pharmaceutical company reported a 20% drop in consolidated net profit to ₹2,279 crore for Q1FY26. 

Other pharma stocks, including Cipla (-3.19%) and Dr. Reddy's Laboratories (-3.85%), were also among the top decliners on the Nifty 50. 

Adani Group's flagship company, Adani Enterprises, closed 3.67% lower after its profits halved in the first quarter of FY26.

Global View

European markets were bleeding on Friday, with Germany's DAX down 1.55%, the FTSE 100 0.6% lower, and the AEX Amsterdam Index falling by 1.2%.

Apart from Malaysia's FTSE Bursa Malaysia KLCI Index, major Asian markets closed in the red.

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