Share Market Today: Sensex, Nifty End Flat. HDFC Bank Slips 4 Per Cent; Nifty Bank Falls 1 Per Cent

Share market today: The two key equity benchmarks, Sensex and Nifty, on Friday settled in the negative zone, weighed largely by HDFC Bank and Nifty Bank stocks. The BSE Sensex hit an intraday low of 79,479, before closing at 79,997, down 53 points. On the other hand, the NSE Nifty50 touched a low of 24,169 before settling at 24,324, up 21 points.

Stock update

On the 30-share Sensex platform, HDFC Bank tanked 4.55 per cent, followed by Titan, Tata Steel, M&M, IndusInd Bank, UltraCemco. On the flip side, SBI, Reliance, HUL, NTPC, L&T, PowerGrid emerged gainers.

In the broader markets, the BSE Midcap and SmallCap indices hit record highs during intraday trade, and closed 0.7 per cent higher each.

Sectoral update

Sectorally, Nifty Private Bank, Financial Services, and Bank indices dropped 1 per cent each. On the other hand, capital goods, FMCG, healthcare, oil & gas and power advanced 1 per cent each.

In the previous session on Thursday, the 30-share BSE Sensex closed marginally higher by 63 points at 80,049, while the NSE Nifty50 settled 16 points up at a record 24,302.

"The domestic market traded with a mixed bias, with the heavy-weight banking sector acting as a laggard. Adding to the worry are the top lending banks, which recorded a sequential decline in deposit growth in the June quarter. Midcap and Small Cap outperformed, and the respective BSE indices hit an all-time high," Vinod Nair, Head of Research at Geojit Financial Services, said.

Global update

Asian markets were closed on a mixed note on Thursday. The US markets were closed on Thursday for Independence Day.

Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Thursday, as they purchased shares worth Rs 2,575.85 crore, according to exchange data.

Brent crude futures, the global oil benchmark, declined 0.19 per cent to $87.26 per barrel.

Rupee gains 1 paise

The rupee pared initial gains and settled for the day almost flat at 83.49 (provisional) against the US dollar on Friday, as muted domestic equities and rise in crude oil prices capped gains for the local unit.

At the interbank foreign exchange market, the local unit opened at 83.48 and hit the intraday high of 83.45 and a low of 83.50 against the American currency during the session.

It finally settled at 83.49 (provisional) against the dollar, 1 paisa higher than its previous close. On Thursday, the rupee pared its initial losses and settled for the day on an almost flat note at 83.50 against the US dollar.