The domestic stock market ended over 1 per cent lower on Friday amid selling in financial counters ahead of the Supreme Court’s decision on adjusted gross revenue (AGR) issue. Further, weak global cues such as lacklustre Chinese economic data and confusion over US fiscal stimulus, too, weighed on investor sentiment.
The S&P BSE Sensex today shed 433 points or 1.13 per cent to settle at 37,877 levels. HDFC Bank, ITC, ICICI Bank, Axis Bank, and Reliance Industries (RIL) were the major contributors to the index’s loss. NSE’s Nifty ended at 11,178, down 122 points or 1.08 per cent.
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Benchmark indices settled the day flat tracking weaker global cues amid concerns that central banks are moving closer to removing the monetary stimulus. The intra-day losses were recouped after index heavyweight Reliance Industries rallied to hit 9-year high. Losses were also capped as pharma and realty indices surged through the day on value buying.
Nifty was up 1.5% for the week, snapping a three-week losing streak, its biggest weekly gain since late May. On the other hand, BSE Sensex was up 1.4% for the week, extending gains for the second consecutive week.
The S&P BSE Sensex ended at 31,360, down 9 points after while the broader Nifty50 was ruling at 9,666, down 9 points
In the broader market, the S&P BSE Midcap was a little changed but ended in red while S&P BSE Smallcap index gained 0.3%.
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