Sensex, Nifty fall marginally after snapping
Equity benchmarks Sensex and Nifty ended marginally lower on Friday, led by losses in HDFC twins, Infosys and Kotak Bank amid negative global cues.
The 30-share BSE Sensex closed at 58,786.67, down 20.46 points or 0.03 per cent. Similarly, the broader NSE Nifty ended 5.55 points or 0.03 per cent lower at 17,511.30.
Titan was the top loser in the Sensex pack, falling over 1 per cent, followed by HDFC, Axis Bank, Kotak Bank and Tech Mahindra. On the other hand, Asian Paints, SBI, M&M, TCS and Bajaj Finserv were among the gainers.
Domestic equities delivered positive returns this week amid easing concerns over possible severity of the Omicron variant of COVID-19, said Shrikant Chauhan, Head of Equity Research (Retail), Kotak Securities.
Sensex and Nifty gave positive returns of around 1.7 per cent this week. BSE Midcap and BSE Smallcap indices outperformed major indices with gains of 2-3 per cent this week. Most of the sectoral indices witnessed positive returns.
“Markets will be eager to act on asset crunch and key policy rates at the upcoming US Federal Reserve meeting in the immediate term,” he said. Elsewhere in Asia, shares ended with losses in Shanghai, Tokyo, Seoul and Hong Kong.
Stock exchanges in Europe were also trading in the red in mid-session deals. Meanwhile, international oil benchmark Brent crude rose 0.39 per cent to $74.71 per barrel.
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