26.12.202504:51:09UTC+00India Stocks Fall but Point to Weekly Gains

The BSE Sensex experienced a decline of 163 points, or 0.2%, settling at 85,247 during the Friday morning trading session, continuing its downward trend from the prior session. This drop was primarily driven by losses in the technology, financial services, and banking sectors. Indian markets are currently undergoing a phase of consolidation with reduced trading activity, largely due to the absence of notable movements in global markets, owing to regional holidays. Despite this, the optimistic performance of Wall Street on Wednesday, where the S&P 500 and the Dow Jones Industrial Average saw record highs, provided some cushioning against the losses. Investors were keenly awaiting the release of November's industrial and manufacturing production data to better understand India's economic prospects for the forthcoming year. Notable early decliners in the session included Bajaj Finance, which fell by 1.1%, Sun Pharmaceuticals down by 1.0%, Tata Steel dropping 0.7%, TCS losing 0.5%, and JSW Steel decreasing by 0.4%. Despite the current setback, the index is still poised for a 0.3% weekly gain, potentially marking its first weekly increase in three weeks.