Sensex, Nifty Snap Six-day Rally

(RTTNews) - Indian shares ended lower on Friday as the government refrained from confirming reports of an imminent deal with the United States and crude oil prices surged in international markets after the announcement of U.S. sanctions on two top Russian producers.

Commerce and Industry Minister Piyush Goyal today said India does not do trade agreements in hurry or with a "gun to our head".

"We are in active dialogue with the EU. We are talking to the US, but we do not do deals in a hurry, and we do not do deals with deadlines or with a gun to our head," he said at Berlin Dialogue in Germany.

Goyal emphasized that trade deals are not merely about tariffs or market access, but about building trust, long-term relationships, and creating sustainable frameworks for global business cooperation.

Investors also reacted to media reports suggesting that the Trump administration is preparing to file a trade investigation into China's compliance with a 2020 trade deal, which could raise tensions ahead of a meeting between Presidents Trump and Xi next week in South Korea.

The BSE Sensex dropped 344.52 points, or 0.41 percent, to 84,211.88 after hovering near record highs in the previous session driven by institutional buying and positive global sentiment.

The broader NSE Nifty index ended down 96.25 points, or 0.37 percent, at 25,795.15, snapping a six-day winning run.

Broader market indexes also ended lower, reflecting a widespread pullback. The BSE mid-cap and small-cap indexes dipped 0.3 percent and 0.2 percent, respectively. The market breadth was weak on the BSE, with 2,302 shares declining while 1,872 shares advanced and 168 shares closed unchanged.

Among the prominent decliners, Hindustan Unilever tumbled 3.2 percent after posting a 4 percent year-on-year rise in consolidated net profit for Q2 FY26.

HDFC Bank, Axis Bank, Titan Company, Kotak Mahindra Bank, Adani Ports and UltraTech Cement fell 1-2 percent.

Globally, Asian markets ended broadly higher while European stocks edged lower ahead of the release of delayed U.S. inflation figures for September later in the day.

Oil edged lower in European trade but was set for its biggest weekly gain since June following new EU and U.S. sanctions on Russia. Gold was poised to end its nine-week winning streak after a rather volatile week.