After closing in their all-time high, benchmark indices took a break on Friday. Both the indices – Sensex and Nifty – fell 0.47% each to close at 85,231 points and 26.068 points, respectively.
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Global cues dampen rate cut expectations
Market experts said that this was primarily due to better-than-expected US non-farm payroll that dampened expectations of US Federal Reserve’s rate cut in December. There were also worries that there could further delay in the US-India trade deal.
FII selling met by strong DII support placement
Foreign institutional investors (FIIs) sold shares of Rs 1,766 crore while domestic institutional investors (DIIs) were net buyers of Rs 3,161 crore.
However, the benchmark indices ended in green for the second consecutive week, supported by positive buying from both DIIs and FIIs.
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