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.
Benchmark indices settled on a flat note tracking mixed cues from global peers after ECB unexpectedly reduced its monthly asset buys but pledged to keep its quantitative easing (QE) program beyond 2017, if needed. Nifty saw the biggest weekly gain since the first week of September and comfortably maintained its crucial 8250 levels in today’s session.
S&P BSE Sensex settled the day 53 points higher at 26,747 while Nifty50 gained 15 points to end at 8,262. In broader markets, BSE Midcap gained 0.21% while BSE small cap was up 0.52%.
The benchmark indices on Friday settled the day lower as auto makers dropped on sharp decline in monthly sales and stocks of telecom service providers – Bharti Airtel, Idea Cellular, Reliance Communications (RCom) – were hit by worries about intensifying competition with the extension of freebies offered by Reliance Jio (RJio) till March 2017.
Sentiment was also muted ahead of the release of the US monthly jobs data, a referendum in Italy over its constitution, and the Reserve Bank of India’s policy review next week.
The S&P BSE Sensex ended at 26,230, down 329 points, while the broader Nifty50 closed at 8,086, down 106 points.
The S&P BSE Sensex settled 77 points down at 26,105 and the Nifty50 eased 6 points to close at 8,074. In the broader market, BSE Midcap rose 0.61% while Small cap closed 0.25% higher.
Even though the indices were largely range-bound during the day, Sensex rose 120 points as well as fell more than 100 points during the day. Nifty50 also breached its crucial 8,050 level during the day.
Weaker rupee boosted export-oriented sectors like pharma even when the overall market sentiment was not very positive.
Banks led the major support with the PSU Bank index surging 6.5 percent. State Bank of India and Bank of India rallied 8-9 percent due to stable asset quality in Q1.
Shares of public sector undertaking (PSU) banks have rallied by up to 11% in intra-day trade after the State Bank of India (SBI) and Bank of India (BOI) reported June quarter results in line with the analyst forecast.
SBI and BOI rallied more than 8% each, while Indian Bank, Punjab National Bank, Union Bank of India, Dena Bank, Canara Bank, Oriental Bank of Commerce, Vijaya Bank, Allahabad Bank, Bank of Baroda and Syndicate Bank were up between 3%-6% on the National Stock Exchange (NSE).
The market has ended on a strong note with support from index heavyweights. The Sensex ended up 292.80 points or 1 percent at 28152.40, and the Nifty was up 80 points or 0.9 percent at 8672.15. About 1246 shares have advanced, 1413 shares declined, and 181 shares are unchanged.
SBI was up 7 percent, Axis Bank, Tata Motors, M&M and HDFC were top gainers while Cipla, Infosys, Sun Pharma, Asian Paints and Lupin were losers.
The market has ended on a strong note with the Nifty above 8650. The 50-share index is up 132.05 points or 1.5 percent at 8683.15. The Sensex is up 363.98 points or 1.3 percent at 28078.35.
About 1820 shares have advanced, 915 shares declined, and 171 shares are unchanged. Hero MotoCorp, Bajaj Auto, M&M, Axis Bank and Tata Motors are top gainers while Bharti, Sun Pharma, Infosys, TCS and Wipro are losers in the Sensex.
The domestic stock market rose in line with other Asian markets, which were trading higher after the Bank of England (BoE) lowered policy rate to 0.25 per cent from 0.5 per cent earlier for the first time in seven years and announced big stimulus package to support growth.
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
Equity benchmarks ended the last session of the week on a negative note. The Sensex fell 74.59 points to 27126.90 and the Nifty declined 14.70 points to 8323.20.
The market breadth was negative as about 1545 shares declined against 1161 advancing shares on Bombay Stock Exchange. Tata Motors, Asian Paints and Hero Motocorp
Tata Motors, Asian Paints and Hero Motocorp topped buying list on Sensex, up more than 2 percent while Bharti Airtel and GAIL fell over 2 percent.