Stock Market News: Sensex Down 100 Points; Nifty Around 22,500. TechM Rises 10%

Stock Market News: On the 30-share Sensex platform, Bajaj Finance shed 6.38 per cent, followed by Bajaj Finserv, Nestle, JSW Steel, M&M, IndusInd Bank emerged losers

Stock Market News: In the broader markets, the BSE Midcap and Smallcap indices advanced 0.36 and 0.54 per cent, respectively.

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Stock Market News: The two key equity benchmarks, Sensex and Nifty, on Friday are trading flat after erasing early gains. At 10 am, the BSE Sensex dropped 102 points to 74,237. On the other hand, the NSE Nifty50 was trading at 22,541, down 30 points.

Stock update

On the 30-share Sensex platform, Bajaj Finance shed 6.38 per cent, followed by Bajaj Finserv, Nestle, JSW Steel, M&M, IndusInd Bank emerged losers. On the flip side, TechM gained 10 per cent, followed by Wipro, HCLTech, HUL, HDFC Bank, Maruti.

About 1,897 shares gained, 1,032 shares declined, while 91 remain unchanged.

In the broader markets, the BSE Midcap and Smallcap indices advanced 0.36 and 0.54 per cent, respectively.

Sectoral update

Sectorwise, Nifty Metal, Nifty IT, and Nifty Realty are leading on the NSE.

In the previous session on Thursday, the BSE benchmark jumped 487 points to end at 74,339.44, while the NSE Nifty50 rose 168 points to 22,570.

Global market update

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the positive territory. Wall Street ended lower on Thursday.

Global oil benchmark Brent crude climbed 0.33 per cent to $89.30 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,823.33 crore on Thursday, according to exchange data.

Rupee slips 5 paise

Meanwhile, the Indian currency depreciated 5 paise to 83.33 against the US dollar in early trade on Friday, tracking a strong greenback overseas and a positive trend in domestic equities. However, elevated crude prices in international markets and unabated foreign capital outflows capped the gains in domestic unit, forex traders said.

At the interbank foreign exchange, the domestic unit opened weak at 83.30 against the dollar and then further slipped to 83.33, registering a fall of 5 paise over its previous close.

In the initial trade, the domestic unit was moving in a tight range of 83.35-83.30 against the American currency. In the previous session on Thursday, the rupee had settled at 83.28 against the dollar.