Sensex, Nifty close lower for the week amid Jio IPO
Indian stock markets had a rough week, with both Sensex and Nifty closing lower.
Friday saw the Nifty 50 drop 74 points to 24,427 and the Sensex fall 270 points to 79,810.
The market fell further in the later hours, coinciding with Mukesh Ambani's announcement about Jio Platforms's IPO plans.
What's behind the market dip
If you're tracking investments or just curious about what's shaking up the markets, here's the scoop:
worries over new US tariffs are making investors nervous about India's export prospects and a weaker rupee.
This caution led to broad selloffs—over half of traded stocks fell, with many hitting yearly lows.
Even big names like Reliance Industries and Infosys weren't spared.
Mid- and small-cap stocks feeling the heat
The fear around global trade tensions is hitting mid- and small-cap stocks hardest, as their prices were already on the higher side.
But it wasn't all bad news—tobacco stocks (thanks to ITC) actually gained ground, and FMCG shares got a boost from hopes of tax cuts and stronger demand.
As Vinod Nair from Geojit Investments put it, everyone's still figuring out what these changes mean in the short term.