Indian Stock Markets Dip Amid Sectoral Weakness and Global Tensions Indian benchmark indices traded lower on Friday, extending losses for the second consecutive session. The Sensex and Nifty 50 fell over 300 points and dropped below 24,250, respectively, with HDFC Bank and Coal India declining 2% each. Sectoral indices across the market showed broad-based weakness, with banking, financial services, oil & gas, realty, and metal stocks leading the decline. This signaled pressure on economically sensitive sectors, while IT, chemicals, healthcare, and midcap IT indices showed resilience with modest gains, indicating selective buying interest in defensive and technology-driven segments amid cautious sentiment. Global markets also faced mixed performance, with S&P 500 futures rising 0.2% as of Tokyo time, while Japan’s Topix fell 0.8%, Australia’s S&P/ASX 200 dropped 1.6%, Hong Kong’s Hang Seng declined 1.2%, and the Shanghai Composite fell 0.1%. Euro Stoxx 50 futures also fell 0.8%. Analysts attributed the Indian market’s decline partly to the HDFC Bank controversy, which Jefferies cited as a factor impacting banking sector valuations. Several companies saw significant price movements. Pidilite Industries shares rose 4% after reporting a 37% jump in Q4 net profit to Rs 584 crore, with revenue up 14%. In contrast, Shakti Pumps shares tumbled 7% as Q4 profit dropped 65% YoY to Rs 38.3 crore. Sonata Software shares surged nearly 10% despite a revenue contraction, driven by a 21% rise in Q4 net profit, strong EBITDA growth, and a final dividend announcement. The bonds market faced pressure as US-Iran tensions resurfaced, pushing Indian government bonds lower. The benchmark 6.48% 2035 bond yield rose to 6.9659% from 6.9328% the previous day.#hdfc_bank #jefferies #pidilite_industries #shakti_pumps #sonata_software
