MUMBAI: India’s benchmark indexes declined on Friday, limiting their weekly gains, weighed by broad-based sectoral losses and investor anxiety over geopolitical tensions following a deadly militant attack in Kashmir.
The Nifty 50 fell 0.86% to 24,039.35 while the BSE Sensex lost 0.74% to 79,212.53.
Both the benchmarks rose about 0.8% each this week. IT index jumped 6.6% to log their best week since June 7, 2024.
Analysts attributed the sharp gains in the IT index to better-than-feared earnings outlook by software companies as well as hopes of easing trade tensions.
On the day, twelve of the 13 major sectors declined.
The broader, more domestically focussed small-caps and mid-caps lost about 2.5% each, as investors turned risk-averse after an attack on tourists in Kashmir killed 26 men and heightened geopolitical tensions.
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