Indian equity markets closed on a lower note for the second consecutive session. The Nifty 50 closed the session over 200 points lower, just saving 24,800, and the Sensex ended the day more than 700 points or 0.88% points lower at 81,460.
The Nifty Bank settled almost 530 points lower at 56,500. In line with the overall bearish sentiments, the BSE Midcap declined 680 points, or 1.46%, lower at 45,978. On the other hand, the BSE Smallcap fell 1,000 points to finish at 53,900.
“The Indian equity market remained under pressure and continued to underperform global equity markets this week. BSE Sensex and BSE Nifty ended the week with a marginal loss. Most of the sectoral indices closed the week in the negative territory, with BSE Reality, BSE IT, BSE Energy, and BSE FMCG being the major losers,” said Shrikant Chouhan, Head Equity Research at Kotak Securities.
5 big highlights from today’s market action-
Indices in intraday trade
The indices closed Friday’s session on a lower note. During the session, out of 3,025 trading stocks, 588 advanced, while 2,352 declined, and 85 remained unchanged. Today, 42 stocks hit a fresh 52-week high. Meanwhile, 36 stocks touched a new 52-week low.
Top losers
Bajaj Finance’s shares were the biggest losers in today’s trade, declining 4.8%. It was followed by Shriram Finance, IndusInd Bank, Bajaj Auto, Tech Mahindra, and many others.
Top gainers
Cipla was the top gainer in the Nifty 50 in Friday’s session, closing 3.17% higher. It was followed by SBI Life Insurance, Apollo Hospitals, Dr Reddy’s Laboratories, and Sun Pharma.
Best and worst performing business groups
The Jaypee Group’s market cap declined the most in today’s session, falling 4.65%. It was followed by the Anil Dhirubhai Ambani Group as ED conducted a raid on its Mumbai properties. Apart from that, the Essel Group’s market capitalisation was erased the most, falling 4%. In the list of Anil Dhirubhai Ambani Group stocks, Reliance Infrastructure and Power were locked in the lower circuit.
Top sectors in Friday’s trade
The Fertiliser sector’s stocks topped the chart in Thursday’s trade, gaining 2.3% in the market capitalisation. Auto Ancilliaries stocks followed suit along with Plastic sector stocks. The Rubber sector stood behind the Tea/Coffee sector, climbing 0.66%, and it was followed by the Internet & E-Commerce sector that rose 0.58%.