A lack of directional cues kept the benchmark S&P BSE Sensex and NSE Nifty 50 in negative territory for the better part of the day on Friday. However, softness in energy prices, including crude oil futures, led the indices to fall and fell marginally after the US and the EU signed an agreement to share energy requirements.
The Sensex was down 233.48 points or 0.41 per cent at 57362.20, and the Nifty fell 69.80 points or 0.41 per cent at 17153. About 1256 shares advanced, 1958 shares declined and 91 shares remained unchanged. 22 out of 30 Sensex stocks and 37 out of Nifty 50 closed the day in the red. Titan Company, Tech M, Maruti Suzuki, Cipla, IOC, Nestle India, Hero MotoCorp, Eicher Motors, L&T, TCS, Wipro and Tata Steel were the top losers, falling over a percentage point each.
On the upside, Bajaj Auto, Adani Ports, SBI, Dr Reddy’s Labs, JSW Steel, Asian Paints, RIL and SBI were the major gainers, ranging between 0.7 per cent and 2 per cent.
The broader markets also closed in negative territory. The BSE Midcap and Smallcap indices declined 0.3%.
Among sectors, Nifty Realty Index was the top gainer, up 1.2 per cent. On the flipside, the Nifty Consumer Durables index was the worst hit, falling over 2 per cent, followed by Nifty IT and FMCG indexes, falling up to 1 per cent.
Inox Leisure shares touched a 52-week high of Rs 497 on BSE in intra-day trade on Friday, supported by heavy volumes. The stock has been able to hold its ground as a better business outlook, with the easing of pandemic-related restrictions and a strong content line-up, set to be released over the next few months.
In contrast, the Indus Tower shares closed at Rs 196.55, down 8 per cent on the BSE, amid heavy trading on Friday. The telecom infrastructure provider’s stock was trading near its 52-week low of Rs 194.25 on August 5, 2021. The stock had hit a 52-week high of Rs 332.60 on September 28, 2021.
Vinod Nair, Head of Research, Geojit Financial Services, said: “After the recent 10 per cent rally, the market has turned sideways with a downside bias due to rising commodity prices, tightening monetary policy and inflationary pressures The domestic market is showing strong resilience but a lot will depend on the outcome of the war and commodity prices to sustain this trend. The easing of Covid restrictions in India is a boost for sectors like hospitality, multiplexes, transport etc., thereby Better performance.”
global signal
Major US stock indices rose more than 1 per cent on Thursday, extending the market’s recent rebound, as investors broke the beaten-down stocks of chipmakers and big growth names and plunged oil prices. The Dow Jones Industrial Average rose 349.44 points, or 1.02 percent, to 34,707.94, the S&P 500 rose 63.92 points, or 1.43 percent, to 4,520.16 and the Nasdaq Composite rose 269.24 points, or 1.93 percent, to 14,191.84.
Tokyo shares opened higher on Friday in overnight rallies of US stocks led by semiconductor stocks. The benchmark Nikkei 225 index rose 0.62 per cent, or 174.65 points, to 28,285.04 in early trade, while the broader Topix index rose 0.48 per cent, or 9.53 points, to 1,991.09. The dollar stood at 122.10 yen, slightly lower than the 122.38 yen seen in New York on Thursday.
Hong Kong shares extended the previous day’s losses at Friday’s open as profit-takers moved in after the market’s recent rally. The Hang Seng index fell 0.96 per cent, or 210.34 points, to end at 21,735.61. The Shanghai Composite Index fell 0.10 per cent, or 3.11 points, to 3,247.16, while the Shenzhen Composite Index on the Second Exchange of China rose 0.08 per cent, or 1.76 points, to 2,146.10.
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