Indian equity benchmarks were trading lower in midday trade on Friday, January 30, with selling pressure visible across metal, PSU, IT and banking stocks. As of 12:20 PM IST, the Nifty 50 was down 0.48% at 25,296, while the Sensex slipped 0.46% to 82,188. Weak sentiment pushed several heavyweight stocks into the list of top losers.
Among Nifty 50 constituents, Hindalco Industries emerged as the biggest laggard, declining 5.6% to trade at Rs 966.3. Tata Steel followed closely, falling 5.4% to Rs 191.4. Metal stocks remained under pressure during the session, dragging index performance lower.
Coal India was also among the top losers, down 4.0% at Rs 437.5, contributing to weakness in PSU stocks. JSW Steel declined 2.1% to Rs 1,211, extending losses seen across the broader metal space. Energy major Oil and Natural Gas Corporation slipped 2.1% to Rs 269.6, adding to the drag on frontline indices.
In the IT sector, Infosys traded 2.1% lower at Rs 1,625.2, remaining under pressure during the midday session. Power sector stocks also saw mild selling. NTPC declined 1.9% to Rs 351.4, while Power Grid Corporation fell 1.8% to Rs 255.7. Among banking stocks, ICICI Bank was down 1.6% at Rs 1,361.2, contributing to the weakness in Bank Nifty. IT stock Tech Mahindra rounded out the list of top losers, slipping 1.5% to Rs 1,742.5.
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