The market on Friday extended fall for the second straight session as investors booked profits after a sharp rally that lifted the benchmark indices to near two-year highs in the previous session.
The negative trade in Asian markets, which slipped on expectations of a US interest rate hike in March, also weighed on sentiment.
The S&P BSE Sensex settled the day at 28,832, down 7 points, while the broader Nifty50 ended at 8,897, down 2 points.
The broader market outperformed the frontline indices. BSE Midcap gained 0.3%, while BSE Smallcap added 0.4%
The market breadth, indicating the overall health of the market, was negative. On BSE, 1,450 shares fell and 1,372 shares rose. A total of 171 shares were unchanged.
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Benchmark indices settled the day flat even ahead of December factory output later today on hopes of reviving economy. The factory output grew by 5.7% in November even after the note ban announced by PM Narendra Modi.
Sentiment was also affected as Asian shares rallied to an 18-month peak on Friday, as investors cheered upbeat Chinese trade data.
Nifty 50 continued to hover around 8,800 levels, gaining for third consecutive week, led by TCS, Grasim, Tech Mahindra and Infosys.
The BSE Sensex index rose 0.4% this week while the NSE added 0.6% even after the RBI held rated for the second time and changed its stance to ‘Neutral’ from ‘Accomodative’
Benchmark indices continued trading under pressure as investors remained cautious ahead of inauguration speech of Donald Trump as US President and after disappointing Axis Bank’s earnings.
Nifty 50 breached its 8,400 level dragged by Axis Bank, Bank of Baroda, Adani Ports and ACC while BSE Sensex fell as much as 296 points at intra-day.
S&P BSE Sensex settled the day at 27,034, down 274 points, while the broader Nifty50 ended at 8,349, down 85 points.
Among broader markets, BSE Midcap index fell 1.5% while BSE Smallcap index fell 0.1.2%.
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The Sensex continued to struggle around the 28,000 mark to finish lower on Friday even as benchmark indices gained on the week. The weakness in Indian equities was in line with the subdued mood in Asian markets.
The Sensex closed at 28,051.86, down 156.76 points over its previous close, and the Nifty shed 27.80 points to close at 8,638.50.
For the week, the Sensex rose 0.9 percent, and the Nifty by 1.1 percent.
About 1221 shares have advanced, 1462 shares declined, and 209 shares are unchanged.
- Nifty 50 closed at 8638.5 with 0.3% loss today. 24 stocks advanced whereas 26 stocks declined and 1 stocks unchanged
- With 6.6% increase EICHERMOT was the top gainer in Nifty. ADANIPORTS, ZEEL increased 3.3% and 2.9% respectively
- ICICIBANK with a loss of 3.6% was the biggest loser in the Nifty. BHARTIARTL , BHEL lost 2.8% and 2.4% respectively
- FIIs bought net 84.6 crores worth of index futures and bought net 1392.9 crores worth of index options
- FIIs sold net 865.8 crores worth of stock futures and bought net 7.2 crores worth of stock options
- Daily volume in ICICIBANK surged 116%, highest growth among NSE stocks
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