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Market ends marginally low; realty, PSU banks shine

Sensex and the Nifty 50 ended with mild losses due to profit booking following a steep rise of almost 2% in the previous session.

Market ends marginally low; realty, PSU banks shine

Photo: Representative Picture (IANS)

The Indian equity indices ended marginally lower on Friday. At close, the Sensex was down 71.77 points or 0.09% at 82,890.94, and the Nifty was down 32.40 points or 0.13% at 25,356.50.

Sensex and the Nifty 50 ended with mild losses due to profit booking following a steep rise of almost 2% in the previous session.

On Nifty, the major gainers were Wipro, Bajaj Finance, Bajaj Finserv, Axis Bank and IndusInd Bank. Losers are ITC, Adani Ports, HDFC Life, Coal India and SBI Life.

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As many as 32 stocks ended with losses in the Nifty 50 index, among which, shares of SBI Life, Adani Ports and HDFC Life ended as the top losers, falling 1-2%.

The midcap and the smallcap segments stayed in the green, and the BSE Midcap and Smallcap indices hit their fresh all-time highs during the session.

BSE Midcap index rose 0.48%, and the Smallcap index climbed 0.95%. The overall market capitalisation of the firms listed on the BSE rose to nearly Rs 468.7 lakh crore from Rs 467.4 lakh crore in the previous session.

Among sectors, except FMCG, power and oil & gas, all other indices ended in the green with IT, media, metal, realty and PSU Bank up 0.5-1.7%.

Zomato, Bajaj Auto, Apollo Hospitals, Persistent Systems, United Spirits, Shriram Finance, Pidilite Industries, Naukri, LTIMindtree, Havells India, Divi’s Labs, Cholamandalam Investment and Finance Company and Britannia Industries were among the stocks that rose to their fresh one-year high levels.

Adani group stocks fell into a sea of red after reports suggested that Swiss authorities froze more than $310 million across multiple Swiss bank accounts as part of the investigation into entities allegedly linked to the Adani Group.

Shares of DLF surged 4 per cent after international brokerage CLSA decided to maintain its ‘hold’ rating of the real estate giant with a target price of Rs 775, citing the company’s focus on profitable growth and execution.

Shares of gold financiers-Muthoot Finance and Manappuram Finance surged up to 3% each as gold prices soared to a record high.

Patanjali Foods shares slipped almost 4% after it saw 3.3% equity stake being sold in large trades.

Indian rupee ended 8 paise higher at 83.89 per dollar on Friday against Thursday’s close of 83.97.

In the global markets, the key event next week will be the US Fed meeting. The US central bank is expected to cut rates by 25 bps. However, all eyes will be on Fed Chair Jerome Powell’s commentary on economic growth and inflation dynamics.

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