Sensex drops over 400 pts, Nifty slips below 25,350; IT and financial stocks under pressure

Indian equity benchmarks retreated on Friday after three straight sessions of gains, as the Sensex fell over 400 points and the Nifty 50 slipped below 25,350. The pullback came after recent optimism driven by expectations of possible U.S. Federal Reserve rate cuts and progress in trade talks between New Delhi and Washington. Sectoral Overview Nifty sectoral indices showed a mixed trend. Gains were recorded in energy, PSU banks, realty, media, metals, and pharmaceuticals. On the other hand, selling pressure was visible in IT, private banks, FMCG, healthcare, and consumer durables. Overall sentiment remained cautious, with investors selectively focusing on pockets of strength. Adani Group Surge

and other group stocks rallied up to 13.3% after the Securities and Exchange Board of India (SEBI) gave a clean chit to Gautam Adani, Rajesh Adani, and several group firms in relation to allegations raised by U.S.-based short-seller Hindenburg Research. : up 13.3% r: surged nearly 9% after Morgan Stanley initiated coverage with an ‘Overweight’ rating, projecting up to 30% upside. Global Market Snapshot S&P 500 futures: steady as of 11:44 a.m. Tokyo time Japan’s Topix: +0.7% Australia’s S&P/ASX 200: +0.6% Hong Kong’s Hang Seng: +0.2% Shanghai Composite: –0.2% Euro Stoxx 50 futures: little changed Investment in securities market are subject to market risks. Read all the related documents carefully before investing.