Investors may continue to be focused on quarterly earnings for a buy-on-dips strategy

Key indices Sensex and Nifty declined for the third session in a row on Friday, dragged by heavy selling pressure in IT, auto and energy stocks. Tariff-related uncertainties amid mixed global market trends added to the selling pressure. The 30-share BSE Sensex tanked 689.81 points to settle at 82,500.47. During the day, it fell 748.03 points to 82,442.25. Similarly, the 50-share NSE Nifty dropped 205.40 points to 25,149.85.

“The domestic market experienced a negative close due to a sober start to Q1 earnings season and a ramp-up in the tariff threat by the US to impose a 35% tariff on Canada. Investors may continue to be focused on quarterly earnings for a buy-on-dips strategy; however, in the near term, the current premium valuation and the global headwinds like low spending & tariff uncertainties may restrain new inflows. The IT index underperformed due to deferment in orders and new investments, which may impact FY26 earnings estimates,” said Vinod Nair, head of research, Geojit Investments.

Shares of Hindustan Unilever surged 5% following the announcement that Priya Nair will become the first woman CEO and MD of the firm effective August 1, 2025. 

The stock jumped to Rs 2,529.85 on the BSE. TCs declined 3.46% after reporting its June quarter earnings. The country's largest IT services company on Thursday reported a 6% growth in June quarter net profit at Rs 12,760 crore, helped by a jump in non-core income even as revenues grew at a tepid pace. 

Mahindra & Mahindra, Bharti Airtel, Tata Motors, Titan, HCL Tech, Bajaj Finance, Reliance Industries, Trent, Infosys and HDFC Bank were among the other major losers.

In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index settled lower, while Shanghai's SSE Composite index and Hong Kong’s Hang Seng ended higher. European markets were trading lower. Global oil benchmark Brent crude climbed 0.31% to $68.85 a barrel.