Indian benchmark indices saw profit-booking today led by losses in IT, capital goods and metal stocks. Sensex fell 389 points to end at 62181. Of 30 Sensex stocks, 18 ended in the red. Nifty too fell 112 points to end at 18,496, with 33 of its constituents closing in the red.
Sensex gainers
Nestle India (2.24%), Sun Pharma (1.20%), Titan (1.20%), Dr Reddy’s (1%) and IndusInd Bank (0.88%) were the top Sensex gainers today.
Sensex losers
HCL Tech (6.72% ), Tech Mahindra (3.58%), TCS (1.72%), Infosys (3.15%), Wipro (2.39%), and RIL (1.52%) were among the top Sensex losers.
Market breadth was negative with 1,207 shares closing higher against 2,309 stocks falling on BSE. 124 shares were unchanged.
IT shares were the top sectoral losers with their BSE index falling 901 points to 29349.Capital goods and metal shares were the other sectoral losers with their BSE indices falling 226 points, 238 points, respectively.
Mohit Nigam, Head – PMS, Hem Securities said, “Due to significant selling in IT companies and growing recession fears in important US markets, local equities benchmarks experienced more downward pressure and traded close to the day’s low points in the late afternoon session. Fears that the US economy was about to enter a recession overpowered euphoria regarding China’s economic reform, which caused European markets to trade primarily in the negative. On the technical front, immediate support and resistance in Nifty 50 are 18380 and 18650 respectively. Bank Nifty immediate support and resistance are 43300 and 44100 respectively.”
Market cap of BSE-listed firms settled at Rs 287.67 lakh crore. BSE mid cap and small cap indices fell 117 points and 297 points, respectively.
Also Read: Share Market News Highlights: Sensex, Nifty settle lower; HCL Tech, TechM, Infosys top drags
Foreign Institutional Investors (FIIs) were net sellers in capital markets as they offloaded shares worth Rs 1,131.67 crore on Thursday, according to exchange data.
Meanwhile, the rupee rose 10 paise to close at 82.28 against the US dollar on Friday, tracking the weakening of the American currency in the overseas market.
At the interbank foreign exchange market, the local unit opened at 82.30 and touched an intra-day high of 82.08 and a low of 82.33 against the greenback.
Previous session
Sensex managed to end higher on Thursday after four straight sessions of losses led by gains in select banking and auto counters amid mixed global cues. Sensex rose 160 points to settle at 62,570.68. Of 30 Sensex stocks, 13 advanced while 17 declined. Nifty too advanced 48.85 points to end at 18,609.35, with 27 of its constituents closing in the red.
Global markets
In Europe, Germany’s DAX added 0.2% to 14,295.30 while the CAC 40 in Paris was nearly unchanged at 6,649.30. Britain’s FTSE 100 also was little changed, gaining less than 2 points to 7,474.82.
In Asia, Hong Kong’s Hang Seng gained 2.3% to 19,900.87 while the Shanghai Composite index added 0.3% to 3,206.95. Tokyo’s Nikkei 225 index gained 1.2% to 27,901.01 and the Kospi in Seoul rose 0.8% to 2,389.04. Australia’s S&P/ASX 200 picked up 0.5% to 7,213.20.
The S&P 500 ended a five-day losing streak on Thursday, led by a rally in technology stocks. However, the major indexes remain on pace for a weekly loss. The S&P 500 rose 29.59 points to 3,963.51. The Nasdaq gained 123.45 points to 11,082, and the Dow rose 183.56 points to 33,781.48.