Indian Stock Market Ends 6-Day Rally: Top Gainers and Losers
The six-day rally in the Indian stock market came to a halt on Friday as investors booked profits across sectors, while attention shifted to Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole symposium, which is expected to provide clarity on a possible September rate cut amid recent signs of job market weakness.
Nifty and Sensex Performance
The Nifty 50 closed the session with a sharp drop of 0.85%, settling below the 25K mark at 24,870, while the S&P BSE Sensex also shed 0.85% to close at 81,306. However, the broader markets outperformed the benchmarks, with the Nifty Midcap 100 and Nifty Smallcap 100 slipping just 0.12% and 0.27%, respectively.
Top Losers
Godfrey Phillips, LT Foods, and India Cements were among the top losers on Friday. Godfrey Phillips India shares resumed their losing streak, slipping 5.30% to ₹10,549 and emerging as the top laggard among Nifty 500 stocks. LT Foods shares also extended their decline, sliding another 3.21% to hit a two-month low of ₹435.
Cement counters such as India Cements, JK Cement, and The Ramco Cements fell around 4% each. Profit booking also continued in Hyundai Motor India and Ola Electric Mobility, with the stocks ending lower by 3.4% and 3.2%, respectively.
Top Gainers
Despite the market losses, several stocks managed to stay in the green. Netweb Technologies led the gainers’ list, jumping 11.6% to ₹2,306, while Vodafone Idea advanced 8% to ₹7.1 after reports suggested the government may slash telecom dues.
Aditya Birla Fashion and Retail also defied weak market sentiment, closing 7.4% higher at ₹81.3 apiece. Godawari Power & Ispat extended its winning run to the fifth straight session, gaining 6.67% to hit a fresh all-time high of ₹238.
Market Outlook
The odds of a Federal Reserve rate cut in September 2025 have dropped from nearly 100% two weeks ago to about 73%. This shift reflects mixed economic signals, including a weak July jobs report, rising core inflation (3.1%), and hawkish comments from Fed Chair Jerome Powell.
Stronger-than-expected producer prices and uncertainty about upcoming data have further fueled doubts about an imminent cut, with some now expecting delays until October or later.
Investors will be closely watching the developments in the US and their impact on the Indian stock market. With the Nifty and Sensex expected to remain volatile, investors should remain cautious and keep a close eye on the market trends.
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