Sensex ends choppy day 234 points down; Nifty holds 17,150; IT, FMCG weigh
Lack of directional cues kept benchmark S&P BSE Sensex and NSE Nifty50 range-bound in the negative territory for better part of the day on Friday. However, the indices turned choppy and ended mildly off lows as energy prices, including crude oil futures, eased after the US and European Union signed agreement to share energy needs.
The 30-pack Sensex index had touched a low of 57,100 during the day but bounced back mildly to end at 57,362, down 233.5 points or 0.4 per cent. On NSE, the Nifty50 ended at 17,153, down 70 points or 0.4 per cent, climbing off from the day’s low of 17,0.76.
22 of the 30 Sensex stocks and 37 of the 50 Nifty50 stocks settled the day in the red. Titan Company, Tech M, Maruti Suzuki, Cipla, IOC, Nestle India, Hero MotoCorp, Eicher Motors, L&T, TCS, Wipro, and Tata Steel were the top laggards, losing upwards of a per cent each.
On the upside, Bajaj Auto, Adani Ports, SBI, Dr Reddy’s Labs, JSW Steel, Asian Paints, RIL, and SBI were the major gainers, up between 0.7 per cent and 2 per cent.
The broader markets, too, closed in the negative zone. The BSE MidCap and SmallCap indices dipped 0.3 per cent each.
Among sectors, the Nifty Realty index was the top gainer, up 1.2 per cent. On the flipside, the Nifty Consumer Durable index was the worst hit, down over 2 per cent, followed by the Nifty IT and FMCG indices, down up to 1 per cent.
Shares of Inox Leisure hit a 52-week high of Rs 497, surging 12 per cent on the BSE in Friday’s intra-day trade, supported by heavy volumes. The stock has been able to hold its ground as pandemic-related restrictions eased and strong content line-up, ready to be released over the next few months, improved business outlook.
Shares of Indian Hotels Company also gained nearly 8 per cent toto touch an intra-day high of Rs 236 on the BSE on Friday. The surge came ahead of the company’s board meeting to decide issue price of qualified institutional placement (QIP), scheduled later today. The stock traded close to its record high level of Rs 230.14 touched on October 14, 2021.
On the contrary, shares of Indus Tower slipped 8 per cent to Rs 196.55 on the BSE in Friday’s intra-day trade amid heavy volume. The stock of the telecom infrastructure provider traded close to its 52-week low of Rs 194.25 touched on August 5, 2021. The stock had hit a 52-week high of Rs 332.60 on September 28, 2021.
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