India’s BSE Sensex closed about 1.4% down at 74,775.7 on Friday, extending losses for a third session, after a sharp late-session selloff wiped out some early gains. Trade was largely impacted by MSCI Global Standard Index rebalancing, which triggered an estimated USD 800 million to USD 1 billion in foreign passive outflows from Indian equities, leading to intense intraday volatility. At the same time, investors remained cautious amid ongoing FII outflows, persistent geopolitical uncertainty and weaker-than-normal monsoon forecasts that could impact inflation. Most sectors came under pressure, with profit booking in oil & gas, metals, autos and financials offset by strength in technology stocks. Power Grid (-3.5%), IndiGo (-3.3%), NTPC (-2.9%), M&M (-2.7%), Tata Steel (-2.7%) and Bajaj Finance (-2.7%) were the biggest laggards. Tech stocks, meanwhile, maintained relative resilience amid optimism around AI and improving global tech sentiment. The index posted a monthly loss of 2.8%.