Closing Bells: The Indian Benchmark Indices Closed the Week on Weak Note

The Indian benchmark indices have the week on a weak note as both Sensex and Nifty crashed nearly 1%. The fall in the cues is attributable to the surge in the bond yields in Europe and the United States of America. The surging number of active COVID-19 cases in the country also contributed to the fall in the indices. 

The S&P BSE Sensex closed the 0.95% or 487.43 points lower. It ended the day at the 50,792.08 levels. The market trend was such that only five of the thirty stocks that constitute the Sensex index closed the day in the green, while the remaining twenty-five of them ended in the adverse terrain. 

PowerGrid was the only stock to close Friday, over 1% higher. Its share price expanded by 2.28%. It was followed by Titan, ONGC, Infosys and Bajaj Finance as their share price jumped by 0.76%, 0.52, 0.48% and 0.24%, respectively. 

Bajaj Auto and Maruti emerged as the top losers in the index. Their share price fell by 3.10% and 2.40%, respectively. ICICI Bank and Sun Pharma followed as their share price was reduced by 2.06% and 2.04%, respectively. 

The NSE Nifty 50 closed the day 15,030.95 points. It lost 143.85 points or 0.95% over Friday. Only eight of the fifty stocks that form the Nifty 50 index closed higher while the remaining forty-two of them tanked. 

BPCL and IOC emerged as the most significant gainers in the Nifty index. Their share price managed to add 3.05% and 2.58%, respectively, to their tally over the day. PowerGrid, JSW Steel, Titan, ONGC, Infosys, and Shree Cement Limited were the other Nifty 50 stocks to close the day on the green terrain day.

Bajaj Auto, Adani Ports, HDFC Life and SBI Life became the most significant losers among the Nifty 50 stocks. Their share price went down by 3.01%, 2.97%, 2.67% and 2.66%, respectively.  

For any clarifications/feedback on the topic, please contact the writer at vineeth.nc@cleartax.in

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