The Indian stock market closed Friday’s session, December 26, with heavy losses, as selling was seen across sectors, led by IT and auto, while thin year-end trading volumes and a lack of fresh triggers kept momentum subdued.
The Nifty 50 ended the session down 0.39% at 26,043, while the S&P BSE Sensex fell 0.44% to 85,035. Both indices ended the holiday-shortened week with minor gains of just over 0.30%. Meanwhile, broader markets closed lower, with the Nifty Midcap 100 falling 0.31%, while the Nifty Smallcap 100 inched up 0.11%.
Overseas investors resumed their selling trend, remaining net sellers over the last three trading sessions after a brief pause, further weighing on sentiment.
Tech stocks were among the top laggards, with the Nifty IT index dropping 1% after the country’s second-largest tech company, Infosys, raised entry-level salaries for freshers, sparking concerns on Dalal Street about potential higher operating costs.
Earlier this week, the US Department of Homeland Security overhauled the H-1B work visa selection process, which weighed on sentiment across the tech pack. Other sectors, including auto, pharma, and PSU banks, also closed in the red.
On the upside, only metals and consumer durables managed gains, rallying 0.55% and 0.31%, respectively.
