Sensex and Nifty just managed to close in green on Friday with little up surge in both the indices. BSE Sensex rose 24 points to close at 31,687.52 points and NSE Nifty went up by 4 points to end at 9,934.8 points.
Sensex and Nifty just managed to close in green on Friday with little up surge in both the indices. BSE Sensex rose 24 points to close at 31,687.52 points and NSE Nifty went up by 4 points to end at 9,934.8 points. The support from the blue-chip stocks was offset by the decline in another set of heavyweight stocks. Infosys, Mahindra & Mahindra, and Sun Pharma dragged the indices to end with minimal gains. However, the 30-share barometer has lost 204 points over this week to 31,687.52 points from the last week’s Friday close of 31,892.23 points.
Shares of Larsen and Toubro (L&T) advanced 4.93% to the day’s high of Rs 1,182 on the news report that the company is eyeing to bag defence contracts worth Rs 40,000 crore. At the last traded price of Rs 1,173.05, L&T has added over Rs 6,500 crore to Rs 1,64,185 — in its market capitalisation. Other stocks which gained during the day include Bharti Airtel (up 1.65%), Kotak Mahindra Bank (up 1.22%), HDFC Bank (up 0.98%), ITC (up 0.78%), Maruti Suzuki (up 0.77%).
Shares of the Hyderabad-based drug maker Dr Reddy’s Laboratories tumbled 7.13% to the day’s low of Rs 2,066.15 on Friday after the Regulatory Authority of Germany concluded an audit of formulations manufacturing facility in Duvvada, Visakhapatnam. It ended down 2.93% at 2,158.8 on BSE. The stocks of heavyweight companies such as Bharti Airtel, Kotak Mahindra Bank, HDFC Bank, ITC, L&T contributed the most in the index gains. Collectively these five stocks alone added over 115 points to the Sensex gains while a slide in shares of Infosys, Mahindra & Mahindra, and Sun Pharma offset the rise.
Most of the regional shares were trading lower on Friday as worries about the damage from Hurricane Irma in the US and fears about ballistic missile launches and nuclear weapons in North Korea continued to weigh. Japan’s benchmark Nikkei 225 slid 0.6% to finish at 19,274.82, as GDP data that got revised lower also dampened sentiments. Australia’s S&P/ASX 200 fell 0.3% to 5,672.60. South Korea’s Kospi lost 0.1% to 2,343.72. Hong Kong’s Hang Seng added 0.5% to 27,668.47, while the Shanghai Composite was little changed, although a tad lower, at 3,365.24.