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Indian equities slip as IT and consumer stocks lag, realty outperforms

The Sensex fell 0.6% for the week and the BSE Realty Index rose 1.6%, while the BSE IT Index dropped 2.6%.

Reported · Written up by our desk · Asia

Indian equities ended the week lower, with declines across information technology, telecommunications, and consumer stocks outweighing gains in realty, metals, and private banks, LiveMint Markets said. On Friday, the Sensex closed flat at 77,540.83, while the Nifty 50 edged up 0.1%. For the full week, the Sensex fell 0.6% and the Nifty declined 0.5%, as investors stayed cautious amid elevated crude prices and volatile global bond markets. Sector performance highlighted the divergence. The BSE Realty Index gained 1.58% for the week, while the BSE Private Banks and the BSE Metal advanced 0.65% and 0.60% respectively. By contrast, the BSE IT Index fell 2.61%, the worst among the sectoral gauges, with the BSE Telecommunication down 1.97% and the BSE Fast Moving Consumer Goods down 1.71%. According to Alpha AMC’s Rajesh Singla, domestic cyclicals should hold ground next week, with realty and private banks supported by rate cut expectations and steady credit growth, while metals benefit from tight global supply. Swastika Investmart’s Santosh Meena said commodity-linked stocks are likely to stay in focus, and added that easing US bond yields could help rate-sensitive financials, including public sector banks and real estate.

Latest closeWTI crude $82.40 ▲1.4%|Sensex 78,079.96 ▲0.1%

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