Sensex ends 105 points lower on Friday; Axis Bank slumps 6%
Benchmark indices lost ground in late trades to end lower as investors booked profits after gains in the previous session post the US Federal Reserve’s decision to keep interest rates unchanged.
The S&P BSE Sensex slipped 105 points to close at 28,668 and the Nifty50 settled 36 points lower at 8,832. Among broader markets, BSE Midcap and Smallcap indices ended up 0.1%-0.3% each. Market breadth ended weak with 1496 losers and 1166 gainers on the BSE.
Foreign institutional investors were net buyers in equities worth Rs 337 crore on Thursday, as per provisional stock exchange data.
BHEL pared intra-day gains to end lower. The state-owned engineering major in a release said that it has recorded the highest-ever commissioning of projects in its history and the highest order booking in the last five years in fiscal 2015-16, ending the year with significant traction in growth drivers.
Energy shares were among the top gainers with Reliance Industries extended gains to rise over 1%.
State-owned ONGC ended with marginally gains. Recently, the oil exploration major announced that its overseas subsidiary ONGC Videsh plans to acquire 11% additional interest in Vankor Field located in East Siberia of the Russian Federation.
Select private banking majors eased on profit taking. ICICI Bank ended down 1.4%. Axis Bank dropped nearly 6% on speculation of SUUTI stake sale in the bank.
IDFC Bank, Bharat Forge, Kesoram Industries, MRF, IFCI, Reliance Capital, Ramco Cement, SRF, Bombay Burmah Trading Corporation and Ajanta Pharma are among the 30 stocks from the S&P BSE 500 index hitting their respective 52-week highs in intra-day trade in an otherwise subdued market today.
Among others, L&T Technology Services listed at Rs 920 on the National Stock Exchange (NSE) today, against an issue price of Rs 860 per share, a premium of around 7%. The stock pared intra-day gains to end flat at Rs 860.