Bourses snap three-day rally on profit-taking in blue-chip stocks
Mumbai: Snapping its three-day gaining streak, benchmark BSE Sensex declined by 387 points on Friday due to profit-taking in blue-chip shares HDFC Bank and ICICI Bank.
The 30-share BSE Sensex tanked 387.73 points or 0.47 per cent to settle at 82,626.23. During the day, it dropped 528.04 points or 0.63 per cent to 82,485.92.
The 50-share NSE Nifty declined 96.55 points or 0.38 per cent to 25,327.05.
Banking, FMCG, and IT shares fell due to profit-taking while energy, realty, and metal shares emerged as gainers.
Among Sensex firms, HCL Tech, ICICI Bank, Titan, Trent, Kotak Mahindra Bank, Hindustan Unilever, Mahindra & Mahindra and HDFC Bank were the major laggards.
However, Adani Ports, Bharti Airtel, SBI, NTPC and Sun Pharma were among the gainers.
“The Indian equity market witnessed profit-booking after a sustained multi-session rally, driven by anticipation of the FED entering an easing cycle. Positive developments in US-India trade negotiations and improved global liquidity conditions continued to offer a cushion to investor sentiment,” Vinod Nair, Head of Research, Geojit Investments Limited, said.
The BSE smallcap gauge went up by 0.16 per cent while midcap index dipped 0.09 per cent.
Among sectoral indices, consumer durables dropped 0.52 per cent, financial services (0.42 per cent), FMCG (0.39 per cent), BSE Focused IT (0.39 per cent), IT (0.30 per cent) and auto (0.27 per cent). Utilities jumped 1.56 per cent, power (1.30 per cent), oil & gas (0.67 per cent), realty (0.46 per cent) and telecommunication (0.40 per cent).
On the weekly front, the BSE benchmark jumped 721.53 points or 0.88 per cent, and the Nifty climbed 213.05 points or 0.84 per cent.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index and Shanghai’s SSE Composite index settled lower while Hong Kong’s Hang Seng ended in positive
territory.
Markets in Europe were trading higher. US markets ended higher on Thursday.
On Thursday, the Sensex rallied 320.25 points or 0.39 per cent to settle at 83,013.96. The Nifty climbed 93.35 points or 0.37 per cent to
25,423.60.
