New Delhi: For the second straight session on Friday (August 1), benchmark equity indices extended losses and fell up to 0.82% over weak corporate earnings and concerns related to tariffs.

While the Sensex fell 585.67 points or 0.72% to close at 80,599.91, the Nifty fell 203 points or 0.82% to end at 24,565.35.

On a weekly basis, the Sensex and Nifty slipped 1.06% and 1.09% respectively. The latest fall also marked their longest weekly losing streak in two years (since August 2023), reported Financial Express.

“The domestic equity market navigated a volatile week marked by heightened uncertainty around trade negotiations and subdued earnings. The market oscillated between cautious optimism and defensive positioning, ultimately ending lower due to persistent FII outflows,” said Vinod Nair, Head of Research, Geojit Financial Services.

Meanwhile, the broader indices underperformed the benchmarks, with the BSE Midcap and BSE Smallcap dropping to 1.37% and 1.59% on Friday. During the week, it declined by 1.79% and 2.47%, respectively.

On the other hand, foreign institutional investors (FIIs) sold shares worth $2.2 billion (Rs 19,338 crore).  Domestic institutional investors (DIIs) purchased equities worth Rs. 24,300 crore during the week, according to provisional BSE data.

Most of the sectoral indices ended in red, with realty, telecom, metals, IT (TECK), and oil and gas being the top laggards, declining up to 5.68%. FMCG was the only gainer, rising 2.41%.

Kotak Mahindra Bank, Tata Motors, Tata Steel, BEL, and TCS, which are among the Sensex constituents, were the top losers, falling between 4.19% and 6.25%.

Rupee weakened by 1.16% (101 paise) against the US dollar during the week, closing at 87.5275.

This was the fourth consecutive weekly decline of the rupee.

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