The last hour of Friday’s trading session saw Indian benchmark indices being highly volatile. They entered the green territory before eventually settling the day flat, but in the red. Apart from the metal stocks, the markets were under the pressure as the investors hit the sell button.
The S&P BSE Sensex closed Friday 0.08% or 25 points lower. It ended the day at the 31,098 levels. Twenty of the thirty stocks of the Sensex index tanked while the remaining ten rallied. Bharti Airtel (up nearly 3%) emerged as the top gainer while Mahindra & Mahindra (down almost 5%) ended Friday as the top loser in the Sensex.
Apart from that, the banking stocks of HDFC Bank, Axis Bank, and ICICI Bank, and the tech giant Infosys led the losses in the Sensex index. The bears ruled the day in the market as the shares of 1,230 of the 2,493 companies listed on the Bombay Stock Exchange (BSE) dropped, while 1,086 of them zoomed, and 177 were unchanged. The BSE Sensex lost 1.72% this week.
Also Read: BSE Sensex Shoots Up Over 2% on the Back of Relief Package
The S&P BSE MidCap index lost nearly 0.3% to settle at 11,500.32 points, while the S&P BSE SmallCap index closed at 10,688.86 level, losing more than 0.16%. The NSE Nifty 50 also ended the nearly flat. It ended the day at 9,137 points, down by 0.06% or 6 points. The NSE Nifty 50 index plummeted 1.23% this week.
The banking stocks took a downward run today. The NSE Nifty PSU Bank index ended the day at 1,186.10 points, losing nearly 1.6%, while NSE Nifty Bank index was reduced by 1% or 235 points to settle at 18,834 points. The NSE Nifty Auto index closed the week at 5,745.70 points. It lost 1% today. The NSE Nifty Metal index ended the day at 1,742.60 levels, which is 1.6% higher.
For any clarifications/feedback on the topic, please contact the writer at vineeth.nc@cleartax.in
Engineer by qualification, financial writer by choice. I am always open to learning new things.
