Indian markets snapped a six-day winning streak on Friday, with the Sensex and Nifty facing a broad-based decline driven by profit-booking and global uncertainty. The Sensex dropped over 500 points, while the Nifty slipped below the 25,000 mark. Key stocks leading the decline were: Financials: Heavyweights

ICICIBANK

and

HDFCBANK

were major drags as investors took profits after a recent rally. Technology:

HCLTECH

and

TCS

fell, reflecting a global downturn in tech stocks. Others:

ADANIPORTS

ASIANPAINT

and

RELIANCE

also contributed to the downward pressure. The market's caution is linked to anticipation of comments from US Federal Reserve Chair Jerome Powell's speech at the Jackson Hole symposium, which could offer clues on future interest rates. Economically, India's retail inflation remains low, raising the possibility of a rate cut by the RBI. The government's proposed GST rate rationalization is also seen as a positive for future economic growth. However, a new round of US tariffs on Indian exports for purchasing Russian crude oil presents a new headwind.

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