Business

Sensex, Nifty Edge Lower; Banking, IT Shares Fall, Auto Stocks Gain

The S&P BSE Sensex and NSE Nifty 50 indexes edged lower on Friday owing to weakness in banking and information technology stocks. However, the losses were capped on the back of buying in auto shares a day after Bajaj Auto reported highest ever quarterly profit. The Sensex fell as much as 177 points to 49,447 and Nifty 50 index briefly fell below its important psychological level of 14,550.

As of 9:22 am, the Sensex was down 105 points at 49,519 and Nifty 50 index slipped 14 points to 14,576.

Six of 11 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty Private Bank index’s 0.9 per cent fall. Nifty Bank, Financial Services, PSU Banking and Realty indexes were also trading lower.

On the other hand, Auto, IT, Metal and media shares were witnessing buying interest.

Mid- and small-cap stocks were trading with a positive bias as Nifty Midcap 100 index rose 0.4 per cent and Nifty Smallcap 100 index advanced 0.5 per cent.

Newsbeep

Tata Motors was top gainer in the Nifty 50 basket of shares, the stock rose 5 per cent to hit fresh 52-week high of Rs 307. Bajaj Auto, Hero MotoCorp, Eicher Motors, Shree Cements, Adani Ports, HCL Technologies, TCS, Asian Paints and Britannia Industries also rose between 1-4 per cent.

On the flipside, Axis Bank, Coal India, HDFC Bank, SBI Life, ICICI Bank, Tech Mahindra, Dr Reddy’s Labs, HDFC, Sun Pharma, Larsen & Toubro, NTPC and Divi’s Labs were among the losers.

The overall market breadth was marginally positive as 1,224 shares were advancing while 932 were declining on the BSE.


Source link

ScoopSky

Scoop Sky is a blog with all the enjoyable information on many subjects, including fitness and health, technology, fashion, entertainment, dating and relationships, beauty and make-up, sports and many more.

Related Articles

Back to top button