Benchmark indices exhibited range-bound trade on Friday as lack of fresh triggers kept indices directionless. The S&P BSE Sensex remained within a narrow range of 348 points, while the Nifty50 travelled 118 points during the day.
By close, the 30-pack index settled at 54,482 levels, up 303 points or 0.56 per cent. The Nifty50, meanwhile, shut shop with gains of 88 points, or 0.54 per cent, at 16,221. In the broader market, the BSE MidCap and SmallCap indices added 0.2 per cent each.
L&T, PowerGrid, NTPC, ICICI Bank, DR Reddy’s Labs, Axis Bank, Bharti Airtel, and Nestle India were the top large-cap gainers, while M&M Financial Services, Oil India, SRF, Trent, Uttam Sugar, RateGain, and GR Infra surged in the broader market.
On the flipside, Tata Steel, IndusInd Bank, Maruti Suzuki, TCS, Crisil, Ashok Leyland, MFSL, RBL Bank, Ajmera Realty, PSP Projects, and Vakrangee were the top laggards across segments.
Among sectors, the Nifty Metal index was the sole loser, down 0.8 per cent. The Nifty Bank and FMCG indices, meanhile, were the outperformers, up 0.5 per cent each.
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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.
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The benchmark indices ended on a positive note for the second straight day on Friday, the last trading day of the financial year (FY19) 2018-19 amid buying in metals, pharma, and auto stocks.
The S&P BSE Sensex ended at 38,673, up 127 points or 0.33 per cent with Vedanta being the top gainer and IndusInd Bank the biggest loser.
The NSE’s Nifty50 index closed above the crucial 11,600 level at 11,624, up 54 points or 0.47 per cent.
On a weekly basis, Sensex gained around 1.30 per cent while Nifty added 1.45 per cent.
During the financial year, Sensex climbed 16 per cent and Nifty50 index gained around 14 per cent.
In the broader market, the S&P BSE Midcap index surged 151 points or 0.99 per cent to close at 15,480. The S&P BSE SmallCap rose 109 points or 0.73 per cent to end at 15,027.
Shares of Ipca Laboratories, Varun Beverages, Merck, Adani Gas, Future Lifestyle, Gujarat Fluorochemicals and Muthoot Finance were among 14 stocks hitting their respective all-time highs on the BSE on Friday.
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After opening marginally lower, the domestic equity market saw a sharp decline in the trade on Friday as investors booked profit across-the-board. The S&P BSE Sensex was trading nearly 600 points lower, slipping below the 36,000 mark in late noon deals, while NSE’s Nifty50 slipped below the crucial 10,800 level, down over 150 points.
IOC, UPL, Adani Ports, Maruti Suzuki and Indiabulls Housing were top losers among Nifty50 stocks, which fell 3.5-4.5 percent.
HPCL, BPCL, Coal India and NTPC were only gainers, up 1-2 percent.
About two shares declined for every share rising on the BSE.
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The benchmark indices ended slightly lower on Friday led by a fall in information technology (IT) and metal stocks.
The S&P BSE Sensex ended at 35,159, down 79 points, while the broader Nifty50 index settled at 10,585, down 13 points.
Among the sectoral indices, the Nifty IT index fell 0.8 per cent weighed by Infosys and Tata Consultancy Services (TCS). The Nifty Metal index slipped 0.9 per cent due to a decline in NMDC. On the other hand, the Nifty Pharma index settled 1.4 per cent higher led by a rise in Sun Pharma.
In stock-specific action, Bharti Airtel fell 2.9 per cent to Rs 297 on the BSE after Moody’s Investors Service placed it’s rating on review for downgrade, following low levels of profitability and expectation of weak cash flow. The stock had fallen as much as 5.21 per cent to Rs 290 on the BSE in intra-day trade.
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