The key benchmark indices wilted under the selling pressure on Friday amid fears of higher interest rates globally. Banks and realty stocks bore brunt of the selling pressure, as the Sensex and Nifty snapped their three-day winning run.
The S&P BSE Sensex started the day with a negative gap of over 300 points at 60,994; the index did recoup losses but could only manage to touch a high of 61,303. A fresh round of selling in noon deals, saw the BSE benchmark slide to a low of 60,811 – down 509 points from the previous day’s close.
Some buying in late trades helped the Sensex trim losses and end at 61,003, down 317 points.
The Nifty 50 registered a low at 17,885, before settling 92 points lower at 17,944.
A vast majority of the Nifty 50 stocks ended in red today. Adani Enterprises was the top loser, down over 4 per cent. Nestle, IndusInd Bank, SBI Life, HDFC Life and Mahindra & Mahindra were the other major losers. On the other hand, Larsen & Toubro gained over 2 per cent. UltraTech Cement, BPCL, Hero MotoCorp and Asian Paints were the other major losers.
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Equity markets ended Friday’s choppy trade with nominal cuts pulled down by losses in select heavyweights such as Reliance(1 per cent), HUL( 4 per cent), Asian Paints (3 per cent) and Infosys (1 per cent).
The BSE Sensex closed 237 points lower at 60,622 after it touched an intra-day high of 61,001. The NSE Nifty reached the day’s high of 18,145 before fizzling out gains and closing 80 points down at 18,028.
The other top frontline drags included Bajaj twins, Nestle, L&T, Bharti Airtel, Maruti, Tech M, Sun Pharma, JSW Steel and HDFC Life, which lost 1-3 per cent.
While Coal India, Power Grid, HDFC twins, ITC, ICICI Bank, SBI, Tata Motors, Axis Bank, and NTPC were among the handful of index gainers.
Broader markets bled more than benchmarks with the BSE Midcap and Smallcap indices falling up to 0.7 per cent.
Within sectors, Nifty consumer durables, FMCG, metals, realty and pharma indices suffered the most losses ending around 1 per cent lower each, while bank and financial pockets held ground and logged fractional gains.
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Breaking away from two-straight sessions of bear hammering, bulls were back in action on Dalal Street. Parked near day’s high, the benchmark indices ended Friday’s session with over one per cent gains amid healthy buying in metal, financial, and auto stocks.
The Nifty Metal index ended nearly 4 per cent higher, while the Nifty Financial Services, FMCG, and Auto indices ended with around 2 per cent gains. Realty, bank, pharma and IT indices, meanwhile, advanced up to 1.5 per cent.
Among the benchmark indices, the frontline S&P BSE Sensex closed with gains of 568 points, or 1.17 per cent, at 49,008 level. The broader Nifty, on the other hand, reclaimed the 14,500-mark on a closing basis and settled at 14,507 level, up 182.4 points or 1.27 per cent.
Bajaj Finserv, Asian Paints, HUL, Titan Company, Bajaj Auto, and HDFC were leading the list of gainers on the Sensex, up between 2.7 per cent and 4.4 per cent. Tata Steel, Tata Motors, Bharti Airtel, and Adani Ports were the additional gainers on the Nifty with up to 6 per cent returns today.
On the downside, PowerGrid, IndusInd Bank, ITC, Maruti Suzuki, UPL, and TCS declined the most on the benchmark indices, down up to 2 per cent.
Overall, the S&P BSE MidCap index ended 1.66 per cent higher, while the SmallCap counterpart closed with a per cent gain.
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Benchmark indices ended over 1 per cent lower on Friday, weighed by a sharp sell-off in the automobile and metal stocks.
The S&P BSE Sensex ended at 36,546, down 425 points or 1.15 per cent, while the broader Nifty50 index settled at 10,944, down 126 points or 1.14 per cent.
Among sectoral indices, the Nifty Auto index, the top loser of the day, settled 3.6 per cent lower as Tata Motors, MRF and Mahindra & Mahindra (M&M) lost considerable ground. Nifty Metal index ended 3.4 per cent lower with SAIL and Vedanta among the top losers.
In the broader market, the S&P BSE MidCap index ended 203 points or 1.40 per cent lower at 14,328, while S&P BSE SmallCap index settled at 13,656, down 122 points or 0.89 per cent.
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