Domestic benchmark indices BSE Sensex and NSE Nifty declined on Friday on account of profit booking by investors, a day after they rallied following US Federal Reserve’s decision to keep the rates unchanged. The 30-share index settled 104.91 points down at 28,668.22, while Nifty 50 index closed 35.90 points down at 8831.55. Among the 51 components in the Nifty index, 37 stocks ended the day in red with Axis Bank declining 5.97 per cent to Rs 556.45, followed by ACC (down 3.17 per cent), Ambuja Cement (down 2.77 per cent), Lupin (down 2.72 per cent) and Aurobindo Pharma (down 2.40 per cent). On the other hand, Reliance Industries, Dr Reddy’s Labs, TCS, HCL Technologies and HDFC gained 1.16 per cent, 0.97 per cent, 0.93 per cent, 0.78 per cent and 0.76 per cent, respectively.
Weak opening in European markets further dampened market sentiments in Friday’s trade. Sentiments are stood under pressure after rupee weakened against the dollar at the Interbank Foreign Exchange market on fresh demand for the American currency from importers.
Sectorwise, the BSE Bankex, Power, Telecom and TECk declined by 1.23 per cent, 0.61 per cent, 0.43 per cent and 0.37 per cent, respectively. The BSE Realty, Oil & Gas, Metal and Consumer Durables index advanced by 1.01 per cent, 0.74 per cent, 0.18 per cent and 0.12 per cent, respectively.
Vinod Nair, head of research, Geojit BNP Paribas Financial Services said, “The market slipped due to profit booking on Friday. Stock market is finding it difficult to cross beyond the recent high due to pressure from rising geopolitical tensions and high valuation.”
In a scrip specific development, shares of InterGlobe Aviation rose 3 per cent after it received shareholders’ approval to increase its borrowing limit to Rs 20,000 crore.
Other Asian peers Shanghai Composite, Hang Seng and Nikkei also closed 0.28 per cent, 0.31 per cent and 0.32 per cent down at 3033.90, 23686.48 and 16754.02, respectively.