Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Friday settled in the red, down nearly 1 per cent each, amid sell-off across sectors and Iran-Israel conflict. The BSE Sensex shed 809 points to 81,688. On the other hand, the NSE Nifty50 declined 235 points to end at 25,015.
Stock update
On the 30-share Sensex platform, M&M, Bajaj Finance, Nestle, Asian Paints, Bharti Airtel, UltraCemco emerged losers. On the flip side, Infosys, TechM, Tata Motors, Axis Bank, TCS, SBI were among the gainers.
The fear index, India VIX, ended higher by 7.27 per cent at 14.13 points.
In the broader markets, the Nifty Midcap 100 and Nifty Smallcap 100 dropped 1.01 per cent and 0.90 per cent, respectively.
Sectoral update
The sectors hit hardest by the downturn included FMCG, Auto, Media, Realty, and OMCs, all declining by over 1 per cent. The Nifty Media index, in particular, dropped 2.53 per cent on Friday. On the other hand, IT and PSU Bank indices managed to post gains, closing 0.45 per cent and 0.61 per cent higher, respectively.
In the previous session on Thursday, The BSE Sensex index crashed 2 per cent or 1,769 points to 82,497. On the other hand, the NSE Nifty50 fell 547 points (2.12 per cent) to close at 25,250.
Rupee settles flat
Rupee traded on a flat note and settled at 83.96 (provisional) against the US dollar on Friday as surging crude oil prices amid volatile geopolitics weighed on the local unit, while the Reserve Bank intervened to prevent the domestic currency from touching its lowest level. Forex traders said a weak American currency against major Asian rivals as well as RBI's move to sell dollars supported the local unit. However, it was weighed down by weak domestic equity markets and unabated outflow of foreign funds.
At the interbank foreign exchange, the local unit opened at 83.96 and moved between a narrow range of 83.93 and 83.97 against the greenback. The unit failed to recover from its deep plunge witnessed in previous sessions and ended flat at 83.96 (provisional) against the dollar. On Thursday, the rupee slid 14 paise to settle at 83.96 against the American currency. The unit had touched its all-time low of 84.09 on August 5.