Share Market Today: Sensex Sheds 269 Points; Nifty Settles Around 23,500. FMCG, PSBs Drag
Share market today: On the 30-share Sensex platform, UltraCemco, L&T, Tata Motors, Nestle, HUL, Tata Steel emerged lower
Share market today: The two key equity benchmarks, Sensex and Nifty, on Friday closed in the negative territory amid volatility as PSB and FMCG stocks tumbled. The BSE Sensex shut shop 269 points lower at 77,210. N the other hand, NSE Nifty50 declined 66 points to 23,501.
Stock update
On the 30-share Sensex platform, UltraCemco, L&T, Tata Motors, Nestle, HUL, Tata Steel emerged lower. On the flip side, Airtel, Infosys, TCS, JSW, NTPC, Kotak Bank were among the gainers.
About 1,595 shares advanced, 1,761 shares declined, and 93 shares were unchanged.
In the broader markets, Nifty Midcap sank 0.08 per cent, while Smallcap dropped 0.17 per cent.
Sectoral update
Sectorwise, Nifty Media was the top gainer, rising 0.95 per cent, followed by IT advancing 0.76 per cent. On the down side, FMCG became the top loser, falling 1.20 per cent, followed by PSB stocks.
In the previous session on Thursday, the BSE benchmark Sensex climbed 141.34 points to settle at a new closing peak of 77,479. On the other hand, the NSE Nifty50 jumped 51 points to settle at its fresh closing high of 23,567.
"The domestic market witnessed minor profit-booking amid concerns over the slow progress of monsoon, resulting in underperformance in the FMCG sector. The global markets were subdued as weak guidance from Accenture led to profit booking in US tech stocks," said Vinod Nair, Head of Research, Geojit Financial Services.
Global update
In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong settled lower. European markets were quoting in the red. US markets ended on a mixed note on Thursday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 415.30 crore on Thursday, according to exchange data.
Global oil benchmark Brent crude declined 0.16 per cent to $85.57 a barrel.
Rupee gains 6 paise
Meanwhile, the rupee recovered from over two months low level and settled 6 paise higher at 83.55 (provisional) against the US dollar on Friday, backed by sustained inflow of foreign capital and softening crude oil prices overseas.
At the interbank foreign exchange, the local unit opened at 83.60 and touched the intra-day high of 83.49 against the greenback. The currency hit the session's lowest level of 83.63 but finally settled at 83.55 against the dollar, registering a gain of 6 paise from its previous close.
On Thursday, the rupee had plunged 17 paise to hit its over two-month low level of 83.61 against the dollar. The domestic currency recorded its previous lowest closing level of 83.61 on April 16 this year.
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