The Indian equity market ended lower for the second straight session on Friday, erasing initial gains amid a mixed trend in the global equities.
Sensex declined 87.12 points or 0.14 per cent to 61,663.48. During the day, the 30 stock index fell 413.17 points or 0.66 per cent to 61,337.43. Nifty dipped 36.25 points or 0.20 per cent to end at 18,307.65.
Mahindra & Mahindra (2.46%), Maruti (1.57%), Bajaj Finance (1.53%), IndusInd Bank (1.52%) and NTPC (1.52% ), were among the top Sensex losers.
Hindustan Unilever (0.99%), Asian Paints (0.86%), HCL Technologies (0.77%), State Bank of India (0.58%) and Kotak Mahindra Bank (0.44%) were among the top gainers.
Market cap of BSE-listed firms fell to Rs 282.30 lakh crore today against the market cap of Rs 283.20 lakh crore in the previous session.
Market breadth was negative with 1,443 shares closing higher against 2054 stocks falling on BSE. 129 shares were unchanged.
Joseph Thomas, Head of Research, Emkay Wealth Management said, "The equity indexes closed in the red after a day of volatile trading. The PSU Banks and Realty traded higher defying the trend for the day. What that markets would look forward to would be the developments Europe and the statements from leading Fed officials on the future stance of the Fed. Though price pressures have ebbed, the retail inflation numbers are too high for the comfort of the central banks, especially in the US and India. At the same time, the prominent view is that probably inflation has peaked and that central banks might still hike rates but the quantum of hikes would be more moderate. Some signs of sluggishness in growth could set in soon due to the aggressive rate action in the last few months. Markets would focus on the actual numbers to get a sense of the trajectory of inflation and official policy as well."
Midcap and small cap indices on BSE lost 110 points and 130 points, respectively.
Auto, capital goods, and consumer durables shares were the top losers with their BSE indices falling 364 points, 198 points and 154 points, respectively.
Foreign Institutional Investors (FIIs) turned buyers as they bought shares worth a net Rs 618.37 crore on Thursday, as per exchange data.
The Indian equity market ended in the red on Thursday in line with weak global cues. Sensex declined 230.12 points or 0.37 per cent to end at 61,750.60. During the day, it fell 337.45 points or 0.54 per cent to 61,643.27. Nifty dipped 65.75 points or 0.36 per cent to end at 18,343.90.
Elsewhere in Asia, markets in Tokyo, Shanghai and Hong Kong ended lower, while Seoul settled in the green. Equity exchanges in Europe were trading in the positive territory in the afternoon session. Wall Street had ended lower on Thursday.
International oil benchmark Brent crude was trading 0.40 per cent higher at $90.09 per barrel.
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