Indian equity benchmark indices witnessed sharp losses on Friday, succumbing to broad-based selling pressure across major sectors. The BSE Sensex plunged 570.59 points or 0.79% to close at 71,909.70, while the NSE Nifty 50 shed 198.50 points or 0.88% to settle at 22,421.95.
Sectorally, the sell-off was led by Nifty IT, Banking, and Auto indices, which faced persistent profit booking. Heavyweights among private banks and technology majors weighed heavily on the indices, whereas select FMCG and Pharma stocks offered mild defensive support to curb deeper losses.
Macroeconomic headwinds further dampened domestic sentiment. Hardening crude oil prices fueled inflation concerns, while the Indian Rupee remained under pressure against the strengthening US Dollar. Mixed global cues from Asian and European markets, coupled with continuous net outflows from Foreign Institutional Investors (FIIs), kept risk appetite subdued despite supportive net absorption by Domestic Institutional Investors (DIIs).