Stock Market Today: Nifty, Sensex Close Lower For Second Week Led By Titan, Tata Steel Fall
On Friday, Nifty ended 0.10% or 24.15 points down at 24974.3 and Sensex ended 0.22% or 176.01 points lower at 81435.40.
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(Sources: Nick Chong/ Unsplash)
KEY HIGHLIGHTS
US Futures Fall Ahead Of Country's PPI, Quarterly Results
Futures of US benchmarks were trading lower as traders await the country's PPI data as well as quarterly results of JP Morgan Chase and Wells Fargo. S&P 500 futures contract fell 0.2%, those of Dow Jones fell 0.1% and Nasdaq Composite's futures fell 0.3% as of 3:38 p.m.
Economic Data, Events Later Friday
US: Core PPI month-on-month
US: PPI month-on-month
US: FOMC Member Goolsbee Speaks
US: FOMC Member Logan Speaks
US: FOMC Member Bowman Speaks
Rupee Weakens To Record Closing Low Against US Dollar
-Rupee weakened by 8 paise to close at 84.07 against the US dollar.
-Rupee hit an all-time low of 84.09 during the day.
-It closed at 83.98 on Thursday.
Source: Bloomberg
Nifty, Sensex Close Lower For Second Week Led By Titan, Tata Steel Fall: Closing Bell
Benchmark equity indices closed lower for a second consecutive week with share prices of Titan and Tata Steel emerging as the top losers on a weekly basis. On Friday, they ended lower as shares of banks and TCS weighed on them.
On Friday, Nifty ended 0.10% or 24.15 points down at 24974.3 and Sensex ended 0.22% or 176.01 points lower at 81435.40.
"Global investors will be keenly looking forward towards the press conference to be held by China’s Ministry of Finance on Saturday," said Shrikant Chouhan, head of equity research at Kotak Securities. "With the start of Q2FY25, we could see stock specific action over the next few weeks based on earnings and management commentary."
He also said risk sentiments is expected to be influenced by volatile commodity prices, geopolitical turmoil, global monetary easing cycle and flows to China.
Shares of ICICI Bank Ltd., HDFC Bank Ltd., Tata Consultancy Services Ltd., Mahindra & Mahindra Ltd., and Axis Bank Ltd. pulled the Nifty lower. While those of Infosys Ltd., Trent Ltd., Larsen & Toubro Ltd., HCL Tech Ltd., and Hindustan Unilever Ltd. cushioned the fall.
Broader markets ended on a positive note. The BSE Midcap and BSE Smallcap both ended 0.44% up.
On BSE, 14 out of 20 sectors ended higher, while six declined. The BSE Metal index rose the most, while the BSE Realty declined the most.
Market breadth was skewed in the favour of buyers. Around 2,140 stocks rose, 1,750 stocks declined, and 121 stocks remained unchanged on BSE.
Weekly Performance
On a weekly basis, Nifty ended 0.2% lower and Sensex closed 0.4% down. Nifty Pharma gained the most this week and Nifty FMCG was top loser.
Markets At Close
Nifty and Sensex recorded a second consecutive week of fall
On Friday, both the indices fell
Nifty ends 0.10% or 24.15 points down at 24974.30
Sensex ends 0.22% or 176.01 points lower at 81435.40
Intraday, both of them fell around 0.3%
Broader indices outperformed; Nifty Midcap 100 and Nifty Smallcap 250 closed 0.4% higher
Sectoral indices were mostly higher at close; Nifty Pharma rose the most and Nifty Realty was top loser
Trent and Hindalco were top Nifty gainers
TCS and M&M fell the most
