Sensex, Nifty End Lower on Strong US Jobs Data

Indian equity benchmarks Sensex and Nifty ended lower on Friday in Mumbai, snapping a two-day winning streak amid a global selloff triggered by stronger-than-expected US economic data. The 30-share BSE Sensex fell 400.76 points, or 0.47 percent, to close at 85,231.92, while the broader NSE Nifty dropped 124 points, or 0.47 percent, to 26,068.15.

The downturn reflected cautious investor sentiment as robust US nonfarm payroll figures diminished expectations for a Federal Reserve interest rate cut in December. This mirrored declines across Asian markets, with South Korea's Kospi falling over 3 percent and Japan's Nikkei 225 dropping more than 2 percent. US indices had closed lower on Thursday, with the Nasdaq Composite down 2.15 percent, the S&P 500 off 1.56 percent, and the Dow Jones Industrial Average declining 0.84 percent. Adding pressure, the Indian rupee weakened to a record low of 89.64 against the US dollar, influenced by reduced risk appetite and lingering uncertainty surrounding a potential US-India trade agreement.

Among Sensex components, Tata Steel was the biggest loser, declining 2.67 percent to 167.85 rupees, followed by HCL Technologies, which fell 2.33 percent....