Benchmark indices Sensex and Nifty declined for a second day in a row on Friday as a result of selling in IT and banking shares amid overseas fund outflows and weak traits in the US markets. The 30-share BSE Sensex fell by 106.62 factors or 0.16 p.c to settle at 66,160.20. During the day, it declined by 388.17 factors or 0.58 p.c to a low of 65,878.65.
The NSE Nifty declined 13.85 factors or 0.07 p.c to complete at 19,646.05. “The better-than-expected US Q2 GDP knowledge, although optimistic, hindered the temper of the home market because it signalled the possibilities of one other charge hike. The Fed chief’s feedback a few data-centric method with out ruling out charge hikes added to the uncertainty.
“Furthermore, the reversal of the buying trend by FII and the rise in US bond yields contributed to market volatility. However, Asian markets remained largely positive due to the BOJ’s decision to retain the policy rate, contrary to speculation about the removal of stimulus measures,” mentioned Vinod Nair, Head of Research at Geojit Financial Services.
From the Sensex pack, Bajaj Finserv, HDFC Bank, Tata Motors, HCL Technologies, Tata Consultancy Services, Axis Bank, Infosys, IndusInd Bank, Tech Mahindra and Maruti have been the main laggards. NTPC, Power Grid, Mahindra & Mahindra, JSW Steel, Bajaj Finance, ITC and Reliance Industries have been among the many gainers.
In the broader market, the BSE midcap gauge jumped 0.55 p.c and smallcap index climbed 0.49 p.c. Among the indices, utilities rallied 2.61 p.c, energy jumped 2.57 p.c, realty (1.92 p.c), providers (1.01 p.c), FMCG (0.85 p.c) and commodities (0.56 p.c).
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