The stock market ended lower on Friday dragged down by auto stocks. Sensex fell 425 points or 0.56% to 75,311.06, while the Nifty declined 117.25 points or 0.51% to 22,795.90.

At close, Sensex and Nifty stood 0.65% lower, with Sensex reaching 75,247.39 and Nifty at 22,763.20 points.

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Nifty reached a high of 22,921.0 and dipped to a low of 22,733.3 while Sensex fluctuated within a range of 75,748.72 and 75,175.97.

Among sectoral indices, only Nifty Metal traded in the green. Nifty Auto performed the worst, declining beyond 2% while the Nifty Pharma, Healthcare, and PSU Bank also fell over 1% each.

Auto stocks fell amidreports indicated Tesla’s entry into India with its first EV shipment.

Rating agency ICRA expected the revenue growth of the Indian auto component industry to ease to 7-9% in FY2025 and 8-10% in FY2026, from the highs of 14% in FY2024.

Bank Nifty dropped over 1% with all the 12 bank stocks on the index were trading in the red.

Kotak Mahindra Bank were among the top loser on the index, falling nearly 2%, It was followed by ICICI Bank. AU Small Finance Bank, Punjab National Bank, Bank of Baroda and Federal Bank followed, seeing a drop of over 1% in their respective share prices.

Nifty Midcap100 and Nifty Smallcap100 indices settled with losses of 1.32% and 0.70%.

On Nifty, the top gainers were Hindalco Industries (2.31%), Tata Steel (1.97%), SBI Life Insurance Company (1.74%), Eicher Motors (1.51%), and Larsen & Toubro (1.20%).

While on the losing side were Mahindra & Mahindra (5.99%), Bharat Petroleum Corporation (2.82%), Adani Ports & Special Economic Zone (2.56%), Tata Motors (2.41%), and Wipro (2.22%).

Among individual performers, Bharat Heavy Electricals fell over a percent for a third consecutive session, falling on the back of a Rs 30 crore arbitration case recently initiated against the company.

JSW Energy rallied as much as 7.6% extending gains for a fourth session in a row, after Morgan Stanley maintained its ‘overweight’ rating on the stock.

Shares of Religare Enterprises climbed over 9% after the Burman family acquired majority control of the company, getting designated as ‘promoters’.

In the global markets, Wall Street ended lower, with the S&P 500 down 0.4%, Nasdaq 100 losing 0.5%, Dow Jones falling 1%, and the Russell 2000 dropping 0.9%.