Key indices snap 2-day winning run
Rising crude prices and continued selling by foreign investors weighed on mkt sentiment; Sensex down 123 pts
Markets begin 2024 on flat note
Mumbai: Equity benchmark Sensex declined 123 points on Friday due to selling pressure in metal and energy stocks amid a bearish trend in global equity markets. Rising crude prices and continued selling by foreign investors also weighed on market sentiment, traders said. Snapping its two-day gaining streak, the 30-share BSE Sensex ended 123.52 points or 0.20 per cent lower at 60,682.70.
During the session, the index touched a high of 60,774.14 and a low of 60,501.74. The broader NSE Nifty slipped 36.95 points or 0.21 per cent to finish at 17,856.50. HCL Tech was the biggest loser on the Sensex chart, shedding 2.79 per cent, followed by Tata Steel, ICICI Bank, Reliance Industries, ITC, Wipro, Infosys and M&M. In contrast, Tata Motors, L&T, Bharti Airtel, HDFC Bank and SBI were among the winners, climbing up to 2.05 per cent.
"During this week, the benchmark BSE-30 and Nifty-50 were almost flat. However, the BSE Midcap and BSE Small-cap index saw positive gains during the week. Sector-wise, BSE Metal and BSE Power index witnessed sharp correction, whereas Healthcare, IT, capital goods and Realty reported gains this week," said Shrikant Chouhan, Head of Equity Research (retail), Kotak Securities Ltd. Among sectoral indices, metal declined by 1.51 per cent on Friday, followed by utilities (1.35 per cent), power (0.84 per cent) and energy (0.69 per cent).
Realty, capital goods and industrials were among the gainers. Adani Group's flagship Adani Enterprises fell 4.15 per cent to settle at Rs 1,847.35. Shares of edible oil major Adani Wilmar Ltd slipped 0.95 per cent to end at 436.10 per scrip. Adani Transmission and Adani Total Gas witnessed a fall of 5 per cent each, while Adani Green Energy fell 4.99 per cent. The scrip of Ambuja Cements gained 0.85 per cent to Rs 361.05, NDTV fell 3.65 per cent to Rs 208.65, and ACC dipped 1.85 per cent to Rs 1,881 on the exchange.
Meanwhile, Adani Ports and Special Economic Zone gained 0.31 per cent to Rs 583.85. In the broader market, the BSE midcap gauge rose 0.04 per cent, and the smallcap index gained 0.48 per cent.
