Share Market Today: Sensex Down 250 Points; Nifty Declines After Hitting Fresh High. Infosys Jumps 3%
Share Market Today: On the 30-share Sensex plaftrom, Tata Steel, TechM, JSW Steel, UltraCemco, Bajaj Finance, Tata Motors emerged losers
Share market today: The two key equity benchmarks, Sensex and Nifty, on Friday are trading lower tracking weak trends from global markets. At 10.15 am, the BSE Sensex dropped 245 points to 81,098. On the other hand, the NSE Nifty was trading at 24, 687, declining 114 points.
Stock update
On the 30-share Sensex plaftrom, Tata Steel, TechM, JSW Steel, UltraCemco, Bajaj Finance, Tata Motors emerged losers. On the flip side, Infosys, Asian Paints, HCL Tech, ITC, Kotak Bank, Nestle were among the lead gainers. Infosys jumped nearly 3 per cent after the firm clocked a 7 per cent rise in consolidated net profit at Rs 6,368 crore in the April-June quarter.
In the broader markets, the BSE Midcap index slumped 0.9 per cent, while the BSE Smallcap index fell 0.77 per cent.
Sectoral update
Sectorally, Nifty IT index gained 1 per cent, followed by Nifty FMCG index, rising 0.09 per cent. Nifty Metal and Realty indices were the top losers, declining over 1 per cent each, followed by Nifty PSU Bank, Pharma, and Auto indices, all dropping 0.6 per cent each.
In the previous session on Thursday, the BSE benchmark Sensex jumped 627 points to end at a fresh closing high of 81,343, while the broader NSE Nifty50 advanced 188 points to settle at an all-time closing high of 24,801.
Global update
In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were quoting lower. The US markets ended in negative territory on Thursday.
Global oil benchmark Brent crude declined 0.41 per cent to $84.76 a barrel.
Foreign Institutional Investors (FIIs) bought equities worth Rs 5,483.63 crore on Thursday, according to exchange data.
Rupee trades in narrow range
The rupee was trading in a narrow range against the US dollar in early trade on Friday, as the support from sustained foreign fund inflows was negated by dollar demand from foreign investors and oil companies. Forex traders said a bounce back in crude oil prices weighed on the rupee. Moreover, weak Asian as well as European currencies may further dent investor sentiments.
At the interbank foreign exchange market, the local unit moved in a narrow range. It touched an early high of 83.62 and a low of 83.65 against the American currency. On Thursday, the rupee depreciated 5 paise and settled at its all-time low of 83.63 against the US dollar.
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