The Indian market snapped its five-day gaining streak amid negative global cues. Sensex closed 12 points lower at 61,223 and Nifty fell 2 points to 18,255. Asian Paints, Axis Bank and HUL shares were the top Sensex losers, falling up to 2.66% on BSE. BSE mid cap and small cap indices rose 58 points and 153 points, respectively.
Market cap of BSE-listed firms rose to Rs 278.49 lakh crore against Rs 278.14 lakh crore in the previous session. Of 30 Sensex shares, 18 ended in the red.
TCS, Infosys, L&T, Tech Mahindra and HDFC Bank were among the top Sensex gainers, rising up to 1.84%.
Market breadth was positive with 2,062 stocks ending higher against 1,345 stocks closing lower on BSE. 96 shares were unchanged.
Capital goods shares were the top sectoral gainers with BSE capital goods index rising 435 points to 30,875. BSE IT index was gained 360 points to 38,441.Banking shares were the top losers with BSE bankex falling 152 points to to 43,771.
Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, "The near-term uptrend status of Nifty remains intact and Friday's intraday weakness has not dampened the efforts of bulls to sustain the highs. The emergence of sustainable buying from the dips and overall positive daily chart pattern signal next upside target of 18600 levels by next week. Immediate support is placed at 18,100 levels."
On Thursday, the Indian equity market closed in the green for the fifth consecutive session. Sensex rose 85 points to 61,235 and Nifty ended 45 points higher at 18,257. Tata Steel, Sun Pharma and L&T were the top Sensex gainers, rising up to 6.35%.
Foreign institutional investors (FIIs) sold shares worth Rs 1,390 crore on January 13, and domestic institutional investors (DIIs) lapped up shares worth Rs 1,065 crore, as per provisional data available on NSE.
Shares slipped in Europe and Asia on Friday after a retreat on Wall Street that left the Nasdaq composite down 2.5%.
Germany's DAX lost 0.6% to 15,928.83 and the CAC 40 in Paris shed 0.7% to 7,145.19. Britain's FTSE 100 edged 0.1% lower to 7,556.29. On Wall Street, the future for the Dow industrials and the S&P 500 both were 0.1% higher.
In Asia, South Korea's Kospi declined 1.4% to 2,921.92.
The Shanghai Composite index lost 1% to 3,521.26 and the Hang Seng in Hong Kong lost 0.2% to 24,383.32. Tokyo's Nikkei 225 lost 1.3% to 28,124.28.
Copyright©2022 Living Media India Limited. For reprint rights: Syndications Today