Stock Market: Sensex Erases Gains, Skids 49 Points, Nifty Holds 16,550; RIL Up 2 Per Cent
Stock update: On the BSE platform, Reliance was the top gainer, up 2.02 per cent, followed by Infosys, L&T, Sun Pharma, TCS, Wipro, HUL, and others
Sensex and Nifty, the two key equity benchmarks, on Friday finished trade in the red as almost all the sectors gave up their gains at the fag-end sell-off.
The 30-share BSE Sensex declined 664 points from the day's high to close at 55,769, down 49 points, while the Nifty50 shut shop at 16,584, down 44 points. It hit an intra-day high of 16,794.
On the BSE platform, Reliance was the top gainer, up 2.02 per cent, followed by Infosys, L&T, Sun Pharma, TCS, Wipro, HUL, and others. On the flip side, UltraCemco, Maruti, NTPC, Axis Bank, Bajaj Finserv, IndusInd Bank, M&M, and others.
On specific stock, shares of Reliance gained 3 per cent to Rs 2,816.35 on the BSE on Friday's intra-day trade. It rallied 7 per cent in the past two trading days amid heavy volumes. RIL has seen addition of Rs 1.25 lakh crore in its total market capitalisation of Rs 19.05 lakh crore during this period.
In the broader markets, the BSE Midcap and Smallcap indices fell 1.45 per cent and 1.16 per cent, respectively.
On NSE, 13 out of the 15 sector gauges settled in the negative zone. Sub-indexes Nifty Auto, Nifty Consumer Durables and Nifty Bank underperformed the platform by falling as much as 1.82 per cent, 1.47 per cent and 0.95 per cent, respectively.
In the previous session on Thursday, the Sensex jumped 436 points (0.79 per cent) to settle at 55,818.11, while the Nifty climbed 105 points (0.64 per cent) to finish at 16,628.
Elsewhere in Asia, bourses in Seoul and Tokyo ended in the green. Chinese markets were closed for a holiday. Markets in Europe were trading mostly higher during afternoon trade. Wall Street had ended sharply higher on Thursday.
Meanwhile, international oil benchmark Brent crude declined 0.66 per cent to $116.8 per barrel.
Foreign institutional investors offloaded shares worth a net Rs 451.82 crore on Thursday, according to stock exchange data.
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