Weekly recap: NIFTY IT, Metals and Energy stocks fall up to 9% this week

Mirroring weak global cues, Indian equity benchmarks continued to show their downward trend on Friday amid global recession worries. US President Donald Trump's announcement on tariffs sparked global trade war fears. After making a negative start, indices spent their entire day under selling pressure as traders avoided taking risks.

The SENSEX ended at 75,364.69, down by 930.67 points or 1.22% after trading in a range of 75,240.55 and 76,258.12. 6 stocks were advancing against 24 stocks declining on the index.

The NIFTY50 ended at 22,904.45, down by 345.65 points or 1.49%, after trading in a range of 22,857.45 and 23,214.70. 9 stocks were advancing against 40 stocks declining on the index, while 1 stock remained unchanged.

The top losing sectoral indices on the BSE were Metal, down by 6.34%, Capital Goods, down by 3.99%, Oil & Gas, down by 3.89%, Industrials, down by 3.89%; and Basic Materials was down by 3.89%, while there were no gaining sectoral indices on the BSE.

For the week, NIFTY50 and SENSEX fell 2.6% amid an eventful week, which witnessed historical tariffs across the globe. Similar to the NIFTY50, Smallcap 250 and Midcap 250 also tanked 2.6% for the week.

Here are the top sectoral weekly losers

NIFTY IT (-9%)

NIFTY IT became the topmost casualty of the market rout this week by losing 9%. Companies like Coforge, Persistent Systems, Mphasis, and HCL Technologies were the top losers, which lost more than 15% this week. While the IT bellwether companies like TCS, Infosys, Wipro, and Tech Mahindra lost up to 9%.

NIFTY Metals (-7.46)

Shares of key metal and mining companies lost the stream and fell more than 10% for the week after reciprocal tariffs made the demand outlook bleak for metal prices. Shares of key metals and mining companies like Vedanta, Hindalco, National Aluminum, and Tata Steel closed in the red with losses over 10% for the week.

NIFTY Oil & Gas (-3.9%)

Shares of upstream and downstream oil and gas players fell for the week after crude oil prices plunged more than 14% in the previous two trading sessions. The unexpected output increase by the OPEC+ countries and the weak outlook on demand due to tariff uncertainties pulled the prices lower.

Here are the top three sectoral weekly gainers

NIFTY Media (+0.90%)

NIFTY Media was the topmost sectoral gainer for the week, with key stocks like Zee Entertainment, Tips Music, Dish TV and Nazara Technologies gaining up to 6.5% for the week. Stocks were in focus as investor sentiment turned bullish to companies with low export exposure amid tariff-led uncertainties.

NIFTY PSU Bank (+0.60)

Shares of government-owned lenders gained in a volatility-led week, outperforming their private peers. Shares of Bank of Baroda, Bank of India, Canara Bank, and Indian Bank gained up to 5% for the week. The rally in public sector banks was primarily driven by optimism around Q4 and FY25 earnings.

NIFTY FMCG (+0.45%)

Shares of FMCG stocks gained for the week amid optimism around Q4FY25 earnings as initial business updates indicate strong earnings for the companies for the quarter. Shares of FMCG majors like Tata Consumer Products Marico, Emami jumped up to 8% for the week.