In the 30-share Sensex, shares of Bajaj Finance, Asian Paints, Eternal, Sun Pharma and Tech Mahindra were among the biggest hurdles, each down between 1% and 1.5%.Friday’s decline pared weekly gains for the benchmark indexes. The Nifty 50 rose 0.3% this week, while the Sensex added 0.1%, breaking a three-week losing streak.
Outside of blue chips, performance was mixed, with small-cap stocks up 1.8% for the week, while mid-cap stocks were little changed.
Expert views
Domestic stocks ended lower today as thin year-end trading volumes and a cautious mood ahead of upcoming earnings prompted broad-based profit booking, said Vinod Nair, head of research at Geojit Investments. He added that optimism surrounding the Santa Claus rally has waned in the absence of new catalysts such as progress on a possible US-India trade deal, while continued FII outflows weighed on the Indian rupee.
“Large-cap stocks underperformed mid- and small-cap peers, although selective strength continued in metals and consumer discretionary stocks, while IT, autos and banks witnessed continued selling pressure,” Nair said.
Global markets
Asian shares moved higher on Friday, with regional benchmarks hitting their strongest levels in six weeks, as investors looked to end the year on a firmer note even as the softer yen kept currency intervention risks on edge.
Trading conditions were poor and markets in Australia, Hong Kong and much of Europe were closed. Still, risk appetite improved this week as investors attempted a year-end rally.
Japan’s Topix index climbed to a record high and was last trading around 0.5% higher. The South Korean benchmark rose 0.6%, extending its advance for the year to around 72% and cementing its position as the world’s best-performing major stock market in 2025.
Chinese blue-chip shares also edged higher, with the index up 0.27% and on track for an 18% gain this year, its strongest annual performance since 2020.
These moves lifted MSCI’s broad Asia-Pacific index to its highest level since mid-November. The index was last up 0.4% and is up about 25% so far this year.
Rough impact
Oil prices were little changed on Friday as investors assess new geopolitical risks amid thin post-Christmas trading. Markets digested reports of U.S. airstrikes on Islamic State militants in Nigeria, in addition to increased economic pressure on Venezuelan oil exports, even as broader participation remained subdued.
Brent crude futures rose 12 cents, or 0.19%, to $62.36 a barrel by 1016 GMT. U.S. West Texas Intermediate crude rose 19 cents, or 0.33%, to $58.54.
Rupee vs dollar
The Indian rupee weakened on Friday, falling 15 paise to a provisional close of 89.86 against the US dollar, pressured by declines in domestic equities and continued foreign fund outflows.
The dollar, meanwhile, held steady. The dollar index, which measures the greenback against a basket of six major currencies, rose 0.10% to 98.07.
(with input from agencies)
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