Nifty Bank Extends Losing Streak, Rupee Hits Record Low

Indian equities ended sharply lower on Friday, with persistent selling pressure across sectors and the rupee hitting a fresh record low against the U.S. dollar.

The Nifty Bank index dropped for the fifth straight session, closing below the 53,700 mark, weighed down by losses in AU Small Finance Bank.

Meanwhile, the Indian rupee closed at 88.2063 per U.S. dollar, its weakest closing level ever, dragged by foreign fund outflows and a stronger greenback.

Sectoral Performance

Nifty Midcap: Down for the third consecutive session.

Nifty Smallcap: Fell for the sixth straight day.

Nifty FMCG: Top sectoral loser of the day.

Nifty Realty: Declined, led by losses in Sobha Ltd. and Brigade Enterprises.

Nifty IT: Extended losses for the third session, with Infosys and Mphasis under pressure.

Nifty Auto: Dropped for the third day in a row, dragged by Mahindra & Mahindra (M&M) and Ashok Leyland.

Nifty PSU Bank: Continued its slide for the seventh session, led by Union Bank of India and Bank of Maharashtra.

Nifty Energy: Declined for the sixth session, with Aegis Logistics and Castrol India among the biggest losers.

Nifty Metal & Pharma: Both indices ended lower for the third straight session.

Stocks in Focus

Despite the overall weakness, Kotak Mahindra Bank and Federal Bank managed to gain, offering some support to financial stocks.

Market Outlook

Market experts note that weak global cues, persistent foreign outflows, and pressure on the rupee are keeping investors cautious. Traders will closely track global market trends, crude oil prices, and upcoming domestic economic data for near-term direction.