Benchmark indices ended lower due to fag-end sell-off today amid positive global cues. Sensex fell 49 points to 55,769 and Nifty ended 43 points lower at 16,584. During the day, Sensex hit a high of 56,432.65 and a low of 55,719.36.
UltraTech Cement, Maruti, NTPC, Bajaj Finserv, IndusInd Bank, Axis Bank and M&M were the top Sensex losers, falling up to 5.49 per cent.
Reliance Industries, Infosys, Larsen & Toubro, HCL Technologies, Sun Pharma, Wipro, TCS and Hindustan Unilever Limited were the top Sensex gainers, rising up to 2.02 per cent. Market cap of BSE-listed firms fell to Rs 257 lakh crore today against Rs 259.04 lakh crore on Thursday.
Market breadth was negative with 1,367 shares ending higher against 1,969 stocks falling on BSE. 130 shares were unchanged.
BSE mid cap and small cap indices fell 336 points and lost 310 points, respectively.
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Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, “After showing a fine upside recovery from the lows on Thursday, Nifty shifted into a higher levels weakness on Friday and closed the day lower by 43 points. After opening with an upside gap of 133 points, the market started with gradual weakness from the highs in the early to mid part of the session. The weakness got strengthened during mid to later part of the session and the Nifty closed near the lows. The opening upside gap has been filled completely. A long negative candle was formed on the daily chart after opening higher. Technically, this pattern indicates a formation of counter attack of bears type candle pattern (not a classical one) at the highs. But the formation of such pattern amid a range movement rules out any sharp negative impact as of now.”
Auto and consumer durables stocks led the losses with their BSE sectoral indices ending 456 points and 653 points lower, respectively. IT shares capped the losses with BSE IT index rising 104 points to 30,383.
Vinod Nair, Head of Research at Geojit Financial Services said, “The late sell-off indicates the lack of confidence in the domestic market driven by the concerns over Central Bank policy. While in the global market, the investors were waiting for the release of US job data. The RBI is expected to hike rates by 25bps to 35bps and the Fed by 50bps, but the outlook & changes in the economic growth and inflation will determine the market trend. If the central banks decide on a stringent policy tightening, the market mood can swing bearish.”
Foreign institutional investors sold shares worth a net Rs 451.82 crore on Thursday, according to stock exchange data. On Thursday, benchmark indices ended higher, snapping two straight sessions of losses.
Sensex rose 436 points to 55,818 and Nifty closed 105 points higher at 16,628. Reliance Industries, Bajaj Finserv, Sun Pharma, HCL Technologies, TCS, Asian Paints, Infosys and IndusInd Bank were among the top Sensex gainers, rising up to 3.51 percent.
Global markets
In Asia, bourses in Seoul and Tokyo ended in the green. Chinese markets were closed for a holiday. Markets in Europe were trading mostly higher during afternoon trade. Wall Street had ended sharply higher on Thursday. Meanwhile, international oil benchmark Brent crude declined 0.66 per cent to $116.8 per barrel.