Market extent losses for 3rd day; broader mrkt tumbles

The frontline indices ended with limited losses on Friday due to foreign institutional investor (FII) selling and ongoing global uncertainty. The Nifty settled below the 23,450 mark after hitting the day's high of 23,596.60 in the early afternoon trade.

The barometer index, the S&P BSE Sensex, declined 241.30 points or 0.31% to 77,378.91. The Nifty 50 index fell 95 points or 0.40% to 23,431.50.

The broader market underperformed the benchmark indices. The S&P BSE Mid-Cap index tumbled 2.13% and the S&P BSE Small-Cap index slumped 2.40%. The market breadth was weak.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 1.75% to 14.92.

The Indian rupee hit a fresh record low against the US dollar on Monday. The currency opened at 85.8800, traded near its fresh all-time low of 86.0000.

Among the sectoral indices, the Nifty IT index (up 3.44%), the Nifty FMCG index (down 0.66%) and the Nifty Oil & Gas index (down 1.06%) outperformed the Nifty 50 index.

Meanwhile, the Nifty Media index (down 3.59%), the Nifty Realty index (down 2.77%) and the Nifty PSU Bank index (down 2.72%) underperformed the Nifty 50 index.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.06% to 6.879 as compared with the previous close of 6.875.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 86.0000, compared with its close of 85.8600 during the previous trading session.

MCX Gold futures for the 5 February 2025 settlement added 0.48% to Rs 78,476.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.02% to 109.15.

The United States 10-year bond yield gained 0.19% to 4.690.

In the commodities market, Brent crude for the March 2025 settlement gained $1.85 or 2.41% to $78.70 a barrel.

Global Markets:

U.S. stock futures point to a weak open Friday, with the Dow Jones Industrial Average futures down 79 points. This follows persistent concerns over a slower pace of interest rate cuts in 2025, exacerbated by upcoming nonfarm payroll data that could provide further insights into the economy. The upcoming earnings season, kicking off next week with major bank reports, adds another layer of uncertainty.

European markets advanced on Friday as investors monitor economic data and ongoing turbulence in the U.K.s debt markets.

Mostly Asian shares declined, concluding a volatile first full trading week of 2025. Investor sentiment remains fragile amid concerns over slower U.S. rate cuts and the possibility of a rate hike by the Bank of Japan.

Japanese stocks extended their losing streak to three days as stronger-than-expected wages and private spending data increased expectations of a potential BOJ rate hike in January.

Weak inflation data from China, released earlier this week, further dampened sentiment, compounded by speculation regarding potential trade tariffs against the country.

Regional markets mirrored losses in global markets, as hawkish signals from the Federal Reserve this week reinforced expectations of slower monetary easing in 2025.

The U.S. market was closed Thursday to honor the passing of former President Jimmy Carter.

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