Benchmarks extended losses in late afternoon session amid weakness in Banking and Industrials stocks. Investors took cautious approach amid uncertainty surrounding peace deal between United States and Iran. Further, continued foreign capital outflows have weighed on market risk sentiments. The foreign institutional investors were the net sellers on Friday’s session offloading equities worth Rs 21,105.86 crore. Meanwhile, the Finance Ministry, in its latest Monthly Economic Review, said that the near-term outlook for the Indian economy is one of cautious resilience. It added that, with a below-normal monsoon forecast and a likely moderation in economic activity, overall consumption demand may face headwinds in the coming months.
On the global front, Asian equity markets were trading mostly in green as expectations for continued demand for semiconductors and AI-related gear offset lingering uncertainty over a possible ceasefire extension in West Asia. European equity markets were trading mostly in green as Germany's inflation slowed in May and unemployment declined unexpectedly in April.
The BSE Sensex is currently trading at 74385.44, down by 390.30 points or 0.52% after trading in a range of 74258.72 and 75367.93. There were 8 stocks advancing against 22 stocks declining on the index.
The top gaining sectoral indices on the BSE were IT up by 2.88%, TECK up by 1.69%, Metal up by 0.79%, Energy up by 0.37% and Telecom up by 0.07%, while Power down by 2.23%, Capital Goods down by 1.84%, Industrials down by 1.70%, Utilities down by 1.67% and FMCG down by 1.63% were the top losing indices on BSE.
The top gainers on the Sensex were Tech Mahindra up by 4.88%, Infosys up by 4.07%, TCS up by 2.40%, Interglobe Aviation up by 1.57% and HCL Technologies up by 1.47%. On the flip side, Hindustan Unilever down by 2.22%, Kotak Mahindra Bank down by 2.11%, ITC down by 2.09%, Mahindra & Mahindra down by 1.97% and Ultratech Cement down by 1.69% were the top losers.
Meanwhile, the Reserve Bank of India (RBI) in its latest data has showed that bank credit to industry recorded a year-on-year (y-o-y) growth of 15.1% by the end of April 2026, sharply higher than 7% growth recorded in the year-ago period. Non-food bank credit accelerated 15.8% y-o-y in the fortnight ended April 30, 2026, as compared to 9.8% during the corresponding fortnight of the previous year (May 02, 2025). Credit to agriculture and allied activities registered a year-on-year growth of 13.7% as against 9.2% in the corresponding fortnight of the previous year.
On advances to industry, the RBI said while credit to micro and small and large industries grew at accelerated pace, medium industries exhibited steady growth on y-o-y basis. Among major industries, outstanding credit to infrastructure; basic metal and metal product; all engineering; petroleum; coal products and nuclear fuels; and chemical and chemical products marked higher year-on-year growth. However, it said construction; textiles; and rubber, plastic and their products segments witnessed marginally subdued credit growth.
According to the data, the services sector led the expansion, with credit growth of 18.6% y-o-y as on April 30, 2026 as compared to 10.1% in the corresponding fortnight of the previous year, supported by robust growth in segments such as non-banking financial companies, commercial real estate, trade and professional services. Further, credit to personal loans segment also maintained strong momentum, recording a 16% year-on-year growth as against 11.9% a year ago. While segments such as vehicle loans and housing sustained robust credit growth, credit card outstanding moderated.
The CNX Nifty is currently trading at 23419.95, down by 127.80 points or 0.54% after trading in a range of 23379.95 and 23733.70. There were 11 stocks advancing against 39 stocks declining on the index.
The top gainers on Nifty were Tech Mahindra up by 4.78%, Infosys up by 3.97%, Coal India up by 3.42%, TCS up by 2.20% and Interglobe Aviation up by 1.66%. On the flip side, Tata Consumer Products down by 2.86%, Hindustan Unilever down by 2.57%, Shriram Finance down by 2.34%, Mahindra & Mahindra down by 2.32% and Max Healthcare Institute down by 2.32% were the top losers.
Asian equity markets were trading mostly in green; Nikkei 225 surged 675.5 points or 1.01% to 67,005.00, Taiwan Weighted added 604.97 points or 1.33% to 45,337.91, Hang Seng advanced 217.61 points or 0.86% to 25,400.00 and KOSPI increased 312.23 points or 3.55% to 8,788.38, while Shanghai Composite weakened 10.83 points or 0.27% to 4,057.74. Meanwhile, the Singaporean and Indonesian markets remained close of account of holiday.
European equity markets were trading mostly in green; France’s CAC rose 21.86 points or 0.27% to 8,205.20 and Germany’s DAX gained 6.1 points or 0.02% to 25,110.80, while UK’s FTSE 100 decreased 18.53 points or 0.18% to 10,390.75.
