New Delhi– The Indian equity indices — S&P BSE Sensex and NSE Nifty50 — settled a tad lower on Friday primarily due to profit booking. Notably, the indices traded marginally lower all throughout Friday’s trade.
For fresh cues, investors awaited the high frequency macroeconomic data – monthly IIP — which was to be released later in the day.
On Friday, Divi Labs, Titan, HDFC, Tata Consumers, Kotak Bank were some of the top losers. These stocks fell 1.55 per cent, 1.52 per cent, 1.15 per cent, 1.03 per cent, 1.01 per cent, respectively.
On the other hand, Asian Paints, SBI, M&M, TCS, Bajaj Finserv Bank were among the major gainers.Consequently, the S&P BSE Sensex closed at 58,786 points, down 0.03 per cent from its previous close.
The broader 50-scrip Nifty at the National Stock Exchange (NSE) ended the day’s trade at 17,511 points, down 0.03 per cent.
On the sectoral front, financial services and consumer durable stocks saw some decline on Friday.
“Indian benchmark indices traded with cuts to close flat following weak sentiments in the global market as the market awaited the release of Indian and US November inflation numbers,” said Vinod Nair, Head of Research at Geojit Financial Services.
“Losses in financial and IT sectors pressurised indices lower while positive realty, auto and metal stocks helped in erasing losses along with strong support from mid and small caps.”
Besides, Nair cited that Asian and European indices traded on a weak foot ahead of the US inflation data.
According to Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services: “Today, profit booking was witnessed in financial services, FMCG, IT and private banking space. while buying was seen in media reality and metals.”
“PSU banking index was the lead gainer up 2.6 per cent after news that government may consider the crucial ‘Banking Amendment Bill’.” (IANS)
