Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Friday pared their gains and ended in the red on profit taking amid volatility. In the morning session, the indices hit their fresh all-time highs. At the closing bell, the BSE Sensex declined 264 points to 85,572. The index scaled a new record high of 85,978 during intra-day trade. On the other hand, the NSE Nifty50, which touched an all-time high of 26,277, ended at 26,179, down 37 points.
Stock update
On the 30-share Sensex platform, Sun Pharma, Reliance, Titan, HCL Tech, Bajaj Finserv, Asian Paints were among the gainers. On the down side, PowerGrid, ICICI Bank, Airtel, HDFC Bank, Kotak Bank, L&T emerged losers.
In the broader markets, the Nifty Midcap 100 and Nifty Smallcap 100 indices settled with losses of 0.15 per cent and 0.10 per cent, respectively.
Sectoral update
Among the sectors, the Bank Nifty, Media, Nifty Private Bank, and Realty indices all closed with losses exceeding 1 per cent. In contrast, the Nifty Oil & Gas index outperformed other sectoral indices, finishing 2.37 per cent higher. Meanwhile, PSU Bank, Pharma, Metal, and IT indices also recorded gains of up to 1.15 per cent.
In the previous session on Thursday, the BSE Sensex jumped 666 points to settle at a record high of 85,836, while the NSE Nifty climbed 212 points to close at a record high of 26,216.
"Following the recent impressive surge, the benchmark indices experienced a sideways movement today as investors engaged in profit booking at elevated levels," Vinod Nair, Head of Research, Geojit Financial Services said.
Global update
In Asian markets, Tokyo, Shanghai, and Hong Kong settled sharply higher while Seoul ended lower. European markets were trading in the green. The US markets ended in positive territory on Thursday.
Foreign Institutional Investors (FIIs) turned buyers on Thursday as they bought equities worth Rs 629.96 crore, according to exchange data. Domestic Institutional Investors (DIIs) also bought equities worth Rs 2,405.12 crore.
Global oil benchmark Brent crude dipped 0.03 per cent to $71.58 a barrel.
Rupee dips 4 paise
The rupee declined 4 paise to settle at 83.70 (provisional) against the US dollar on Friday amid subdued domestic equity markets and increased month-end demand for the American currency. However, sliding crude prices in the international market and renewed foreign fund inflows supported the local unit and restricted the fall, forex dealers said.
At the interbank foreign exchange, the local unit opened at 83.64 and moved between the high of 83.62 and the low of 83.71 during the session. The local unit finally settled at 83.70 (provisional) against the dollar, registering a loss of 4 paise from its previous close. On Thursday, the rupee declined 8 paise to settle at 83.66 against the American currency.