15.05.202611:01:58UTC+00Sensex Finishes on Negative Note

India’s BSE Sensex slipped 0.2% to close at 75,238 on Friday, snapping a two-session winning streak as late selling in metal and oil & gas counters erased most of the day’s earlier gains. Sentiment turned more cautious amid mounting inflation worries.

Crude oil prices climbed further on the back of ongoing tensions in the Middle East and uncertainty surrounding the reopening of the Strait of Hormuz. Domestically, a nationwide fuel price hike added to inflation pressures: the government raised petrol and diesel prices for the first time in four years, by 3 rupees per litre—an increase of more than 3%—to recoup part of the losses stemming from higher global crude prices. Meanwhile, foreign portfolio outflows persisted.

On the stock front, Tata Steel (-2%) led the laggards, followed by Eternal (-1.9%), Reliance Industries (-1.9%), and UltraTech Cement (-1.8%). In contrast, IT names outperformed, with Infosys and Tech Mahindra advancing 2.1% and 2%, respectively. Power Grid, Adani Ports, Maruti, and Bharti Airtel each gained more than 1%.

For the week, the Sensex recorded a 2.7% decline.